Assurant (NYSE:AIZ) EVP Subhashish Sengupta Sells 1,880 Shares of Stock

Assurant, Inc. (NYSE:AIZ) EVP Subhashish Sengupta sold 1,880 shares of the business’s 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 completion of the sale, the executive vice president owned 2,895 shares in the company, valued at approximately $609,484.35. This trade represents a 39.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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 Up 2.1%

Shares of NYSE:AIZ opened at $217.23 on Tuesday. The company has a market cap of $10.80 billion, a price-to-earnings ratio of 12.80 and a beta of 0.58. Assurant, Inc. has a 12 month low of $174.97 and a 12 month high of $246.31. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average price of $227.86 and a 200 day moving average price of $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 the consensus estimate of $5.55 by $0.06. The company had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Assurant had a return on equity of 18.65% and a net margin of 6.81%.The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $4.79 earnings per share. As a group, equities research analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Announces Dividend

The business 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 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, February 17th. Assurant’s dividend payout ratio is presently 20.74%.

Analyst Ratings Changes

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

Institutional Trading of Assurant

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its holdings in shares of 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 worth $1,085,247,000 after purchasing an additional 959,259 shares during the last quarter. Norges Bank bought a new stake in Assurant during the 4th quarter valued at about $161,574,000. Qube Research & Technologies Ltd boosted its position in Assurant by 482.8% in the 2nd quarter. Qube Research & Technologies Ltd now owns 621,830 shares of the financial services provider’s stock valued at $122,805,000 after buying an additional 515,127 shares during the period. Voya Investment Management LLC boosted its position in Assurant by 685.2% in the 3rd quarter. Voya Investment Management LLC now owns 452,293 shares of the financial services provider’s stock valued at $97,851,000 after buying an additional 394,694 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its stake in Assurant by 676.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 240,240 shares of the financial services provider’s stock worth $57,862,000 after acquiring an additional 209,300 shares in the last quarter. 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.