Assurant (NYSE:AIZ) EVP Sells $395,796.40 in Stock

Assurant, Inc. (NYSE:AIZ) EVP Subhashish Sengupta sold 1,880 shares of the stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $210.53, for a total transaction of $395,796.40. Following the transaction, the executive vice president owned 2,895 shares in the company, valued at approximately $609,484.35. The trade was a 39.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Subhashish Sengupta also recently made the following trade(s):

• On Thursday, March 19th, Subhashish Sengupta sold 20 shares of Assurant stock. The shares were sold at an average price of $215.00, for a total transaction of $4,300.00.

Assurant Stock Performance

Shares of NYSE AIZ traded up $4.42 during mid-day trading on Monday, hitting $217.23. The company had a trading volume of 317,507 shares, compared to its average volume of 412,750. The stock has a market cap of $10.80 billion, a price-to-earnings ratio of 12.80 and a beta of 0.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.39 and a quick ratio of 0.39. The firm’s 50 day simple moving average is $228.28 and its two-hundred day simple moving average is $224.50. Assurant, Inc. has a 12 month low of $174.97 and a 12 month high of $246.31.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, February 10th. The financial services provider reported $5.61 EPS for the quarter, beating analysts’ consensus estimates of $5.55 by $0.06. Assurant had a net margin of 6.81% and a return on equity of 18.65%. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same period in the prior year, the firm earned $4.79 earnings per share. The business’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Tuesday, February 17th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, February 17th. Assurant’s dividend payout ratio (DPR) is currently 20.74%.

Hedge Funds Weigh In On Assurant

Institutional investors and hedge funds have recently made changes to their positions in the business. New York State Common Retirement Fund increased its holdings in shares of Assurant by 37.9% in the third quarter. New York State Common Retirement Fund now owns 37,148 shares of the financial services provider’s stock valued at $8,046,000 after purchasing an additional 10,200 shares during the last quarter. GW&K Investment Management LLC raised its holdings in shares of Assurant by 25.6% during the 3rd quarter. GW&K Investment Management LLC now owns 274,862 shares of the financial services provider’s stock worth $59,537,000 after buying an additional 56,009 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Assurant by 1,823.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 45,386 shares of the financial services provider’s stock valued at $9,871,000 after purchasing an additional 43,026 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Assurant by 1.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 455,070 shares of the financial services provider’s stock worth $89,872,000 after purchasing an additional 6,041 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Assurant by 23.7% in the third quarter. Bank of New York Mellon Corp now owns 5,010,373 shares of the financial services provider’s stock valued at $1,085,247,000 after purchasing an additional 959,259 shares during the period. Institutional investors own 92.65% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Assurant in a report on Monday, December 29th. Wall Street Zen cut shares of Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Truist Financial upped their target price on Assurant from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. BMO Capital Markets reduced their target price on Assurant from $255.00 to $246.00 and set an “outperform” rating on the stock in a report on Thursday, February 12th. Finally, Piper Sandler raised their price target on shares of Assurant from $252.00 to $264.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $258.17.

About Assurant

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.