Assurant, Inc. (NYSE:AIZ) EVP Biju Nair Sells 3,000 Shares

Assurant, Inc. (NYSE:AIZ) EVP Biju Nair sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total value of $604,500.00. Following the completion of the transaction, the executive vice president now owns 17,708 shares of the company’s stock, valued at $3,568,162. The trade was a 14.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Assurant Stock Down 0.6 %

Shares of NYSE AIZ opened at $199.73 on Friday. The stock has a market cap of $10.24 billion, a P/E ratio of 13.80 and a beta of 0.62. The company has a current ratio of 0.64, a quick ratio of 0.42 and a debt-to-equity ratio of 0.41. Assurant, Inc. has a 12-month low of $160.12 and a 12-month high of $230.55. The business’s fifty day simple moving average is $210.08 and its 200-day simple moving average is $203.68.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. As a group, equities analysts predict that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, February 3rd will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Monday, February 3rd. Assurant’s payout ratio is currently 22.11%.

Institutional Trading of Assurant

Several hedge funds have recently modified their holdings of AIZ. True Wealth Design LLC acquired a new stake in shares of Assurant in the third quarter valued at $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Assurant in the fourth quarter valued at $28,000. Smartleaf Asset Management LLC raised its stake in Assurant by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock valued at $28,000 after buying an additional 75 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Assurant by 219.1% in the fourth quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock valued at $32,000 after buying an additional 103 shares in the last quarter. Finally, Huntington National Bank raised its stake in Assurant by 509.4% in the third quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock valued at $39,000 after buying an additional 163 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. StockNews.com lowered Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Morgan Stanley assumed coverage on Assurant in a research report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 price target for the company. Keefe, Bruyette & Woods upgraded Assurant from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $212.00 to $230.00 in a research report on Thursday. Finally, Truist Financial raised their price target on Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Assurant presently has a consensus rating of “Moderate Buy” and an average price target of $234.17.

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.