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

Assurant, Inc. (NYSE:AIZ) EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total transaction of $604,500.00. Following the transaction, the executive vice president now owns 17,708 shares in the company, valued at approximately $3,568,162. The trade was a 14.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Assurant Price Performance

NYSE:AIZ traded up $1.08 on Thursday, reaching $201.22. The stock had a trading volume of 412,541 shares, compared to its average volume of 387,497. The company has a market capitalization of $10.32 billion, a P/E ratio of 13.91 and a beta of 0.62. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55. The company has a quick ratio of 0.42, a current ratio of 0.64 and a debt-to-equity ratio of 0.41. The stock has a fifty day moving average price of $210.77 and a 200-day moving average price of $203.48.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. Research analysts forecast that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 1.59%. Assurant’s dividend payout ratio (DPR) is presently 22.11%.

Hedge Funds Weigh In On Assurant

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AIZ. True Wealth Design LLC acquired a new position in shares of Assurant during the third quarter worth approximately $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Assurant during the fourth quarter worth approximately $28,000. Smartleaf Asset Management LLC lifted its position in shares of Assurant by 127.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 75 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Assurant by 219.1% during the fourth quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 103 shares in the last quarter. Finally, Huntington National Bank lifted its position in shares of Assurant by 509.4% during the third quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock worth $39,000 after purchasing 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

A number of analysts recently weighed in on AIZ shares. Truist Financial upped their target price on shares of Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods raised shares of Assurant from a “market perform” rating to an “outperform” rating and upped their target price for the company from $212.00 to $230.00 in a research note on Thursday. StockNews.com cut shares of Assurant from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley started coverage on shares of Assurant in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.