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

Assurant, Inc. (NYSE:AIZ) CAO Dimitry Dirienzo sold 750 shares of Assurant stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $210.98, for a total value of $158,235.00. Following the completion of the sale, the chief accounting officer directly owned 4,741 shares in the company, valued at $1,000,256.18. This represents a 13.66% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Assurant Stock Performance

Shares of AIZ stock 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. The stock has a 50 day simple moving average of $227.86 and a 200-day simple moving average of $224.50. 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.

Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, February 10th. The financial services provider reported $5.61 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period last year, the firm earned $4.79 EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities analysts forecast that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on AIZ. Wall Street Zen downgraded shares of Assurant from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Truist Financial boosted their price objective on shares of Assurant from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Piper Sandler upped their target price 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Assurant in a report on Monday, December 29th. Finally, BMO Capital Markets reduced 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. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Assurant has a consensus rating of “Moderate Buy” and a consensus target price of $258.17.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Montag A & Associates Inc. acquired a new position in shares of Assurant during the 4th quarter worth $28,000. Versant Capital Management Inc grew its stake in Assurant by 72.6% in the 3rd quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 53 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new position in Assurant during the 2nd quarter valued at about $27,000. Smartleaf Asset Management LLC increased its holdings in Assurant by 65.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 59 shares in the last quarter. Finally, BOKF NA acquired a new position in Assurant during the third quarter worth about $32,000. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Company Profile

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.