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

Assurant, Inc. (NYSE:AIZ) CAO Dimitry Dirienzo sold 2,000 shares of Assurant stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $255.68, for a total value of $511,360.00. Following the transaction, the chief accounting officer directly owned 2,741 shares of the company’s stock, valued at $700,818.88. The trade was a 42.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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 Stock Down 1.8%

AIZ stock opened at $247.47 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $12.26 billion, a PE ratio of 12.66 and a beta of 0.56. Assurant, Inc. has a twelve month low of $183.39 and a twelve month high of $260.96. The stock has a 50-day simple moving average of $231.72 and a two-hundred day simple moving average of $230.89.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share for the quarter, beating analysts’ consensus estimates of $5.29 by $0.66. The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.29 billion. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.79 EPS. On average, equities analysts predict that Assurant, Inc. will post 21.04 EPS 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 issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, June 8th. Assurant’s payout ratio is presently 18.01%.

Wall Street Analyst Weigh In

AIZ has been the subject of a number of recent analyst reports. Wall Street Zen lowered Assurant from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Morgan Stanley raised Assurant from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $240.00 to $285.00 in a report on Thursday, May 14th. Piper Sandler lifted their target price on Assurant from $268.00 to $290.00 and gave the company an “overweight” rating in a report on Tuesday. Weiss Ratings upgraded Assurant from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday. Finally, UBS Group lifted their price target on Assurant from $270.00 to $274.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.83.

Institutional Trading of Assurant

Large investors have recently modified their holdings of the business. CYBER HORNET ETFs LLC bought a new stake in shares of Assurant during the 2nd quarter valued at about $27,000. Montag A & Associates Inc. bought a new stake in shares of Assurant during the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC boosted its position in shares of 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 during the last quarter. BOKF NA bought a new stake in shares of Assurant during the 3rd quarter valued at about $32,000. Finally, Western Wealth Management LLC bought a new stake in shares of Assurant during the 1st quarter valued at about $33,000. Institutional investors own 92.65% of the company’s stock.

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.