Insider Selling: Christopher J. Pagano Unloads 1,250 Shares of Assurant Stock (AIZ)
Assurant (NYSE:AIZ) EVP Christopher J. Pagano sold 1,250 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $68.10, for a total value of $85,125.00. Following the sale, the executive vice president now directly owns 79,916 shares of the company’s stock, valued at approximately $5,442,280. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Assurant in a research note on Tuesday, May 20th. They now have a $70.00 price target on the stock. Separately, analysts at Bank of America downgraded shares of Assurant from a “neutral” rating to an “underperform” rating in a research note on Friday, May 16th. They now have a $73.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at SunTrust reiterated a “neutral” rating on shares of Assurant in a research note on Friday, April 25th. They now have a $68.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Assurant currently has an average rating of “Hold” and an average price target of $62.43.
Assurant (NYSE:AIZ) traded up 0.75% during mid-day trading on Monday, hitting $68.32. The stock had a trading volume of 374,789 shares. Assurant has a 52 week low of $48.41 and a 52 week high of $69.26. The stock has a 50-day moving average of $66.65 and a 200-day moving average of $65.47. The company has a market cap of $4.895 billion and a price-to-earnings ratio of 10.12.
Assurant (NYSE:AIZ) last released its earnings data on Wednesday, April 23rd. The company reported $1.68 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.53 by $0.15. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the company posted $1.46 earnings per share. Assurant’s revenue was up 13.9% compared to the same quarter last year. Analysts expect that Assurant will post $6.28 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Thursday, May 22nd. This is a positive change from Assurant’s previous quarterly dividend of $0.25.
Assurant, Inc (NYSE:AIZ) is a provider of specialized insurance products and related services in North America and select worldwide markets.
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