Insider Selling: Assurant CEO Sells 21,626 Shares of Stock (AIZ)
Assurant (NYSE:AIZ) CEO Adam Lamnin unloaded 21,626 shares of Assurant stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $69.38, for a total transaction of $1,500,411.88. Following the completion of the transaction, the chief executive officer now directly owns 31,434 shares of the company’s stock, valued at approximately $2,180,891. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Assurant (NYSE:AIZ) traded down 0.64% on Monday, hitting $68.83. 1,048,681 shares of the company’s stock traded hands. Assurant has a 52-week low of $49.03 and a 52-week high of $69.71. The stock’s 50-day moving average is $67.33 and its 200-day moving average is $65.75. The company has a market cap of $4.931 billion and a P/E ratio of 10.34.
Assurant (NYSE:AIZ) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.68 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $1.46 earnings per share. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, analysts predict that Assurant will post $6.27 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, June 10th. Investors of record on Tuesday, May 27th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Thursday, May 22nd. This is an increase from Assurant’s previous quarterly dividend of $0.25.
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 issued a hold rating and one has given a buy rating to the company’s stock. Assurant currently has an average rating of “Hold” and an average price target of $62.43.
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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