Assurant , Inc. (NYSE:AIZ) has reported through an SEC filing that its Executive Vice President and President of Global Housing, Michael P. Campbell, has sold a significant amount of company stock. The transactions, which occurred on May 20 and May 21, 2024, resulted in the sale of a total of 11,000 shares, with a combined value of over $1.8 million.
On the first day, Campbell sold 1,304 shares at a weighted average price of $173.35, with individual sales prices ranging from $173.30 to $173.495. The following day, he sold 9,696 shares at a weighted average price of $171.37, with the prices of these transactions ranging from $170.91 to $171.8875. The sales were executed in multiple transactions at various prices within the ranges provided.
After these sales, Campbell still holds a substantial number of shares in the company, including restricted stock units. The exact number of shares owned following the transactions is 14,890.37, as indicated in the filing.
These transactions are part of the routine disclosures that executives of publicly-traded companies are required to make when buying or selling shares of their own companies. Investors often monitor these filings to get insights into executives' perspectives on the company's stock value and future performance.
The report filed with the SEC confirms that Michael P. Campbell has completed these sales, and the full details regarding the number of shares sold at each separate price within the stated ranges are available upon request from Assurant, Inc., its security holders, or the SEC staff.
InvestingPro Insights
Assurant, Inc. (NYSE:AIZ) has demonstrated a robust track record of rewarding shareholders, as evidenced by its consistent history of dividend payments. With a market capitalization of $8.81 billion, the company's commitment to returning value to investors is clear. Notably, Assurant has not only maintained dividend payments for 21 consecutive years but has also raised its dividend for 20 consecutive years, showcasing financial resilience and a shareholder-friendly approach.
InvestingPro Tips highlight that three analysts have recently revised their earnings expectations upwards for the upcoming period, indicating a potential positive outlook for Assurant's financial performance. Additionally, the company has been profitable over the last twelve months, which could reinforce investor confidence in the face of executive stock sales. On the other hand, Assurant faces challenges with its gross profit margins, which stand at 11.53% for the last twelve months as of Q1 2024, and the issue of short-term obligations exceeding its liquid assets, warranting careful monitoring by investors.
From a valuation perspective, Assurant's P/E ratio is at 11.77, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at 11.19. This, coupled with a PEG ratio of 0.05, may suggest that the stock is reasonably valued in relation to its earnings growth. For investors seeking more comprehensive analysis and insights, InvestingPro offers additional tips on Assurant, which can be accessed with a special offer. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and discover the full array of InvestingPro Tips that could help inform your investment decisions.
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