Assurant, Inc. (NYSE:AIZ) EVP Biju Nair Sells 3,000 Shares

Assurant, Inc. (NYSE:AIZ) EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total value of $604,500.00. Following the sale, the executive vice president now directly owns 17,708 shares in the company, valued at approximately $3,568,162. The trade was a 14.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Assurant Trading Up 0.5 %

Assurant stock opened at $201.22 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.42 and a current ratio of 0.64. The firm has a market cap of $10.32 billion, a price-to-earnings ratio of 13.91 and a beta of 0.62. Assurant, Inc. has a 1 year low of $160.12 and a 1 year high of $230.55. The firm’s 50 day moving average price is $210.44 and its two-hundred day moving average price is $203.47.

Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. On average, research analysts predict that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.59%. The ex-dividend date is Monday, February 3rd. Assurant’s payout ratio is 22.11%.

Hedge Funds Weigh In On Assurant

Several institutional investors and hedge funds have recently added to or reduced their stakes in AIZ. True Wealth Design LLC purchased a new position in Assurant during the 3rd quarter worth approximately $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Assurant during the 4th quarter valued at $28,000. Smartleaf Asset Management LLC increased its stake in shares of Assurant by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 75 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Assurant by 219.1% in the fourth quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 103 shares during the last quarter. Finally, Huntington National Bank increased its stake in shares of Assurant by 509.4% in the third quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 163 shares during the last quarter. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods raised Assurant from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $212.00 to $230.00 in a report on Thursday. StockNews.com cut Assurant from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Morgan Stanley assumed coverage on Assurant in a report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 target price on the stock. Finally, Truist Financial boosted their target price on Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $234.17.

Assurant Company Profile

Assurant, Inc, together with its subsidiaries, provides business services that supports, protects, and connects consumer purchases in North America, Latin America, Europe, and the Asia Pacific. The company operates through two segments: Global Lifestyle and Global Housing. The Global Lifestyle segment offers mobile device solutions, and extended service contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.