Insider Selling: Assurant, Inc. (NYSE:AIZ) EVP Sells $226,048.40 in Stock

Assurant, Inc. (NYSE:AIZ) EVP Michael P. Campbell sold 1,304 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $173.35, for a total value of $226,048.40. Following the transaction, the executive vice president now owns 24,586 shares in the company, valued at approximately $4,261,983.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Assurant Price Performance

NYSE:AIZ opened at $169.01 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.39 and a quick ratio of 0.39. Assurant, Inc. has a one year low of $118.45 and a one year high of $189.48. The company has a fifty day moving average price of $177.15 and a 200 day moving average price of $172.23. The stock has a market cap of $8.79 billion, a P/E ratio of 11.79, a PEG ratio of 1.69 and a beta of 0.53.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Monday, June 10th. Assurant’s dividend payout ratio is currently 20.10%.

Institutional Investors Weigh In On Assurant

A number of institutional investors have recently added to or reduced their stakes in AIZ. Norges Bank acquired a new position in Assurant in the 4th quarter valued at approximately $108,253,000. AMF Tjanstepension AB bought a new position in Assurant in the first quarter worth $39,013,000. FMR LLC lifted its position in Assurant by 7.5% in the third quarter. FMR LLC now owns 2,748,162 shares of the financial services provider’s stock worth $394,581,000 after purchasing an additional 191,750 shares during the period. Federated Hermes Inc. boosted its stake in Assurant by 75.1% during the third quarter. Federated Hermes Inc. now owns 376,975 shares of the financial services provider’s stock worth $54,126,000 after buying an additional 161,671 shares in the last quarter. Finally, Gillson Capital LP bought a new stake in Assurant in the 4th quarter valued at $27,013,000. 92.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AIZ has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Assurant from $182.00 to $186.00 and gave the stock a “market perform” rating in a report on Wednesday, May 15th. UBS Group upped their price target on shares of Assurant from $191.00 to $205.00 and gave the company a “buy” rating in a report on Monday, February 12th. Finally, Piper Sandler lifted their price objective on Assurant from $195.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Assurant currently has an average rating of “Moderate Buy” and an average price target of $200.25.

Assurant Company Profile

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.