Assurant (NYSE:AIZ) CAO Dimitry Dirienzo Sells 2,000 Shares of Stock

Assurant, Inc. (NYSE:AIZ) CAO Dimitry Dirienzo sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $255.68, for a total value of $511,360.00. Following the completion of the sale, the chief accounting officer owned 2,741 shares in the company, valued at approximately $700,818.88. This represents a 42.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Dimitry Dirienzo also recently made the following trade(s):

• On Friday, March 20th, Dimitry Dirienzo sold 750 shares of Assurant stock. The shares were sold at an average price of $210.98, for a total value of $158,235.00.

Assurant Trading Down 1.6%

AIZ stock opened at $251.79 on Thursday. The firm has a market cap of $12.48 billion, a P/E ratio of 12.88 and a beta of 0.56. The business’s 50 day moving average is $231.12 and its 200-day moving average is $230.73. 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, Inc. has a 1-year low of $183.39 and a 1-year high of $260.96.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share for the quarter, topping the consensus estimate of $5.29 by $0.66. The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.29 billion. Assurant had a net margin of 7.60% and a return on equity of 20.32%. The company’s revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the business posted $5.79 earnings per share. Equities analysts anticipate that Assurant, Inc. will post 21.04 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 8th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Monday, June 8th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.4%. Assurant’s payout ratio is currently 18.01%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. BMO Capital Markets dropped their target price 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. Weiss Ratings upgraded Assurant from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday. Keefe, Bruyette & Woods raised their target price on Assurant from $258.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Wall Street Zen cut Assurant from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Truist Financial raised their target price on Assurant from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Assurant currently has an average rating of “Moderate Buy” and a consensus price target of $275.83.

Institutional Trading of Assurant

Several institutional investors and hedge funds have recently added to or reduced their stakes in AIZ. CYBER HORNET ETFs LLC acquired a new stake in Assurant during the 2nd quarter valued at $27,000. Montag A & Associates Inc. acquired a new stake in Assurant during the fourth quarter worth approximately $28,000. Smartleaf Asset Management LLC grew its position in Assurant by 65.6% during the third quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider’s stock worth $32,000 after buying an additional 59 shares in the last quarter. BOKF NA bought a new position in Assurant in the third quarter valued at approximately $32,000. Finally, Western Wealth Management LLC bought a new position in Assurant in the first quarter valued at approximately $33,000. 92.65% of the stock is owned by institutional investors.

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.