Assurant (NYSE:AIZ) EVP Subhashish Sengupta Sells 1,880 Shares

Assurant, Inc. (NYSE:AIZ) EVP Subhashish Sengupta sold 1,880 shares of the firm’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $210.53, for a total transaction of $395,796.40. Following the completion of the transaction, the executive vice president directly owned 2,895 shares in the company, valued at $609,484.35. This trade represents a 39.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Subhashish Sengupta also recently made the following trade(s):

• On Thursday, March 19th, Subhashish Sengupta sold 20 shares of Assurant stock. The stock was sold at an average price of $215.00, for a total value of $4,300.00.

Assurant Stock Performance

Shares of AIZ stock traded up $4.42 on Monday, hitting $217.23. 317,507 shares of the stock were exchanged, compared to its average volume of 412,750. The firm’s 50 day moving average is $228.28 and its two-hundred day moving average is $224.50. The firm has a market capitalization of $10.80 billion, a PE ratio of 12.80 and a beta of 0.58. Assurant, Inc. has a one year low of $174.97 and a one year 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 issued its quarterly earnings results on Tuesday, February 10th. The financial services provider reported $5.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.55 by $0.06. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.28 billion. Assurant had a return on equity of 18.65% and a net margin of 6.81%.The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the company posted $4.79 EPS. Sell-side analysts expect that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Tuesday, February 17th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, February 17th. Assurant’s payout ratio is currently 20.74%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AIZ shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Assurant in a research report on Monday, December 29th. Truist Financial boosted their price objective on shares of Assurant from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Piper Sandler lifted their price objective on shares of Assurant from $252.00 to $264.00 and gave the company an “overweight” rating in a report on Friday, December 19th. BMO Capital Markets lowered 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. Finally, Wall Street Zen downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $258.17.

Hedge Funds Weigh In On Assurant

Several large investors have recently made changes to their positions in AIZ. Versant Capital Management Inc lifted its holdings in Assurant by 72.6% during the 3rd quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock worth $27,000 after buying an additional 53 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new stake in shares of Assurant in the second quarter valued at approximately $27,000. Montag A & Associates Inc. purchased a new position in shares of Assurant during the fourth quarter worth about $28,000. Smartleaf Asset Management LLC increased its stake in Assurant by 65.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider’s stock valued at $32,000 after buying an additional 59 shares during the period. Finally, BOKF NA acquired a new position in Assurant during the 3rd quarter worth approximately $32,000. 92.65% of the stock is currently owned by institutional investors and hedge funds.

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.