Assurant (NYSE:AIZ) CAO Dimitry Dirienzo Sells 750 Shares

Assurant, Inc. (NYSE:AIZ) CAO Dimitry Dirienzo sold 750 shares of the company’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $210.98, for a total transaction of $158,235.00. Following the transaction, the chief accounting officer owned 4,741 shares of the company’s stock, valued at $1,000,256.18. This trade represents a 13.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Assurant Price Performance

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

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, February 10th. The financial services provider reported $5.61 earnings per share for the quarter, topping analysts’ consensus estimates of $5.55 by $0.06. Assurant had a return on equity of 18.65% and a net margin of 6.81%.The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the previous year, the company posted $4.79 EPS. Assurant’s quarterly revenue was up 7.9% compared to the same quarter last year. Research analysts expect that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Dividend Announcement

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Assurant

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Assurant by 1.3% in the second quarter. Vanguard Group Inc. now owns 6,775,234 shares of the financial services provider’s stock worth $1,338,041,000 after acquiring an additional 88,749 shares during the period. Bank of New York Mellon Corp boosted its holdings in Assurant by 0.6% in the fourth quarter. Bank of New York Mellon Corp now owns 5,040,347 shares of the financial services provider’s stock valued at $1,213,968,000 after acquiring an additional 29,974 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Assurant by 6.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 919,639 shares of the financial services provider’s stock valued at $221,500,000 after purchasing an additional 57,139 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in Assurant by 7.7% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 697,555 shares of the financial services provider’s stock worth $168,006,000 after purchasing an additional 49,698 shares during the last quarter. Finally, Norges Bank bought a new position in Assurant during the 4th quarter worth approximately $161,574,000. 92.65% of the stock is currently owned by institutional investors.

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.