In a recent transaction on May 16, Robert Lonergan, the Chief Marketing & Risk Officer of Assurant , Inc. (NYSE:AIZ), sold 2,700 shares of the company's common stock. The sale amounted to a total of approximately $475,529, with the shares being sold at a weighted average price of $176.12.
The transactions were executed in multiple lots with prices ranging from $175.92 to $176.34. Following the sale, Lonergan's remaining stake in the company includes 19,786.314 shares, which accounts for both direct holdings and restricted stock units.
Assurant, Inc., headquartered in Atlanta, Georgia, operates in the insurance sector and is incorporated in Delaware. The company's business address is at 260 Interstate North Circle S.E., Atlanta, GA 30339.
Investors and stakeholders in Assurant, Inc. can request detailed information from the executive regarding the specific prices at which the individual shares were sold within the reported range.
The sale was publicly reported in a Form 4 document filed with the Securities and Exchange Commission, with the signature of Lisa Richter, Attorney-in-Fact, on May 20, 2024.
InvestingPro Insights
Assurant, Inc. (NYSE:AIZ) has recently been in the spotlight due to executive stock transactions, but there's more to the company's financial health and performance that investors should consider. According to InvestingPro data, Assurant has a market capitalization of $8.94 billion and boasts a Price-to-Earnings (P/E) ratio of 11.94, which adjusts slightly to 11.37 when looking at the last twelve months as of Q1 2024. This suggests that the stock may be reasonably valued relative to its earnings. Furthermore, the company has experienced a revenue growth of 9.81% over the last twelve months, indicating a solid top-line expansion.
One of the notable InvestingPro Tips for Assurant is that the company has raised its dividend for 20 consecutive years, showcasing a strong commitment to returning value to shareholders. This is particularly relevant for income-focused investors who prioritize steady dividend streams. Additionally, analysts have revised their earnings upwards for the upcoming period, which could signal confidence in the company's future profitability and financial performance.
For investors who are intrigued by these insights and wish to delve deeper into Assurant's financials, InvestingPro provides a wealth of additional tips. Currently, there are 7 more tips available that could further inform investment decisions. To explore these insights and benefit from an extensive analysis, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at https://www.investing.com/pro/AIZ.
Assurant's financial stability is also reflected in its consistent dividend payments, with the company maintaining these payments for 21 consecutive years. However, it's important to note the company's weak gross profit margins, which at 11.53%, could suggest room for improvement in cost management or pricing strategies. This, along with the fact that its short-term obligations exceed its liquid assets, may be areas for potential investors to monitor closely.
Overall, Assurant's long-term return over the last five years and its positive revenue growth trajectory offer a compelling narrative for those considering adding the company to their investment portfolio.
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