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 Friday, November 8th. The shares were sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the sale, the executive vice president now owns 20,658 shares of the company’s stock, valued at $4,321,240.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Assurant Price Performance

NYSE AIZ traded up $1.56 on Tuesday, reaching $212.29. 290,281 shares of the stock traded hands, compared to its average volume of 345,142. The firm’s fifty day simple moving average is $195.46 and its 200 day simple moving average is $181.69. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 0.40. Assurant, Inc. has a 12 month low of $159.32 and a 12 month high of $214.82. The company has a market cap of $11.00 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 2.19 and a beta of 0.57.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.48. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the firm earned $4.29 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. As a group, research analysts predict that Assurant, Inc. will post 15.05 EPS for the current fiscal year.

Assurant Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Tuesday, September 3rd. Assurant’s dividend payout ratio (DPR) is 20.54%.

Institutional Investors Weigh In On Assurant

A number of hedge funds and other institutional investors have recently made changes to their positions in AIZ. Innealta Capital LLC acquired a new stake in Assurant in the second quarter valued at $31,000. Richardson Financial Services Inc. grew its stake in shares of Assurant by 62.1% in the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after buying an additional 77 shares in the last quarter. Huntington National Bank grew its stake in Assurant by 509.4% during the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 163 shares in the last quarter. Family Firm Inc. acquired a new stake in Assurant during the 2nd quarter valued at approximately $51,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Assurant in the 3rd quarter worth $56,000. Institutional investors and hedge funds own 92.65% of the company’s stock.

Wall Street Analysts Forecast Growth

AIZ has been the topic of several research analyst reports. Truist Financial raised their target price on Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. UBS Group boosted their price objective on Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Piper Sandler increased their price objective on shares of Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Bank of America raised their price objective on shares of Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods raised their price objective on Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $225.20.

About Assurant

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.