Assurant , Inc. (NYSE:AIZ) has reported a notable transaction by a high-ranking executive, according to a recent SEC filing. Dimitry DiRienzo, the company's Senior Vice President, Chief Accounting Officer, and Controller, executed a sale of company stock that netted more than $365,000.
The transaction, which took place on May 17, 2024, involved the sale of 2,084 shares of Assurant's common stock. The shares were sold at a weighted average price of $175.29, with individual transactions ranging from $175.14 to $175.47. Following the sale, DiRienzo continues to hold 3,702 shares of Assurant stock, which includes restricted stock units as indicated in the filing footnotes.
Investors often monitor insider transactions such as these for insights into executive sentiment toward their own company's stock. The details provided in the SEC filing ensure transparency and allow shareholders to see the specifics of the transactions should they wish to obtain further information.
Assurant, Inc., headquartered in Atlanta, Georgia, operates in the insurance sector, providing a range of risk management products and services. The company's stock is listed on the New York Stock Exchange under the ticker symbol AIZ.
InvestingPro Insights
Amidst the recent insider transaction by a senior executive at Assurant, Inc. (NYSE:AIZ), investors looking to gauge the company's financial health and future prospects can glean additional insights from InvestingPro data and tips. Assurant's market capitalization stands at a robust $8.91 billion USD, reflecting its significant presence in the insurance sector.
The company's Price/Earnings (P/E) Ratio is currently at 11.93, with a slight adjustment in the last twelve months as of Q1 2024 to 11.32, indicating a potentially favorable valuation compared to industry peers. Furthermore, Assurant has demonstrated a solid revenue growth of 9.81% over the last twelve months as of Q1 2024, showcasing its ability to expand its operations effectively.
InvestingPro Tips offer valuable insights for investors considering Assurant's stock. Notably, the company has raised its dividend for 20 consecutive years, a testament to its commitment to returning value to shareholders. This consistent dividend track record is further bolstered by the company maintaining dividend payments for 21 consecutive years. Additionally, three analysts have revised their earnings upwards for the upcoming period, which could signal confidence in the company's performance trajectory.
On the flip side, Assurant does suffer from weak gross profit margins, which currently stand at 11.53%. This could indicate challenges in maintaining profitability relative to revenue. It's also noteworthy that short term obligations exceed liquid assets, potentially signaling a need for careful liquidity management.
For those interested in a deeper dive into Assurant's financials and strategic positioning, InvestingPro offers a comprehensive set of additional tips. To take advantage of this resource and enhance your investment strategy, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With these insights, investors can make more informed decisions about the potential risks and opportunities associated with Assurant's stock.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.