Christopher J. Pagano Sells 2,500 Shares of Assurant, Inc. (AIZ) Stock

Assurant, Inc. (NYSE:AIZ) EVP Christopher J. Pagano sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $95.55, for a total transaction of $238,875.00. Following the sale, the executive vice president now directly owns 59,993 shares in the company, valued at $5,732,331.15. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of AIZ opened at $97.19 on Thursday. Assurant, Inc. has a fifty-two week low of $84.34 and a fifty-two week high of $106.99. The company has a market cap of $5.01 billion, a P/E ratio of 24.42, a price-to-earnings-growth ratio of 0.65 and a beta of 0.53. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.45.

Assurant (NYSE:AIZ) last announced its earnings results on Thursday, May 3rd. The financial services provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.25. Assurant had a net margin of 7.41% and a return on equity of 5.17%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the prior year, the firm earned $1.88 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. research analysts forecast that Assurant, Inc. will post 7.54 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 19th. Shareholders of record on Tuesday, May 29th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.30%. The ex-dividend date is Friday, May 25th. Assurant’s dividend payout ratio (DPR) is presently 56.28%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Lyrical Asset Management LP grew its holdings in Assurant by 3.2% during the 4th quarter. Lyrical Asset Management LP now owns 1,916,844 shares of the financial services provider’s stock worth $193,295,000 after acquiring an additional 58,950 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Assurant by 63.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 725,316 shares of the financial services provider’s stock worth $66,301,000 after acquiring an additional 281,234 shares in the last quarter. Guggenheim Capital LLC grew its holdings in Assurant by 7.7% during the 1st quarter. Guggenheim Capital LLC now owns 692,126 shares of the financial services provider’s stock worth $63,266,000 after acquiring an additional 49,674 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Assurant by 11.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 635,078 shares of the financial services provider’s stock worth $64,042,000 after acquiring an additional 65,800 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Assurant by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 599,203 shares of the financial services provider’s stock worth $60,306,000 after acquiring an additional 15,881 shares in the last quarter. Institutional investors own 92.72% of the company’s stock.

AIZ has been the topic of several recent research reports. UBS Group initiated coverage on shares of Assurant in a research note on Friday, March 2nd. They set a “buy” rating and a $127.00 target price on the stock. ValuEngine raised shares of Assurant from a “sell” rating to a “hold” rating in a research note on Wednesday, March 7th. Finally, SunTrust Banks cut their target price on shares of Assurant and set a “buy” rating on the stock in a research note on Thursday, April 12th.

About Assurant

Assurant, Inc, through its subsidiaries, provides risk management solutions for housing and lifestyle markets in North America, Latin America, Europe, and the Asia Pacific. The company operates through three segments: Global Housing, Global Lifestyle, and Global Preneed. Its Global Housing segment provides lender-placed homeowners, manufactured housing, and flood insurance; renters insurance and related products; and mortgage solutions comprising property inspection and preservation, valuation and title, and other property risk management services.

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