Assurant , Inc. (NYSE:AIZ) has reported a recent stock transaction involving one of its top executives. Jay Rosenblum, the company's Executive Vice President and Chief Legal Officer (CLO), sold shares of Assurant stock on August 12, 2024, according to a regulatory filing with the Securities and Exchange Commission.
The transaction consisted of 1,750 shares sold at a weighted average price of $178.2454 per share. The sales took place in multiple transactions at prices that ranged from $178.01 to $178.60. Following this sale, Rosenblum's direct ownership in the company stands at 9,260 shares, which includes restricted stock units as noted in the filing's footnotes.
The total value of the shares sold by Rosenblum amounted to approximately $311,929. The disclosure of this sale provides current and potential investors with insight into the trading activities of the company's executives, which can be an important factor in investment decisions.
Assurant, Inc., headquartered in Atlanta, Georgia, is a provider of risk management solutions in the housing and lifestyle markets, including protection products, insurance, and related services.
Investors and stakeholders in Assurant can request more detailed information about the transactions from the company if needed, as indicated in the footnote of the SEC filing.
In other recent news, Assurant Inc (NYSE:AIZ). reported robust second-quarter results for 2024, primarily driven by significant growth in its Global Housing and Connected Living segments. The company's adjusted EBITDA increased by 20% year-to-date, and adjusted EPS grew by 29%. The Connected Living segment saw a 6% rise in adjusted EBITDA due to new partnerships and programs, while Global Housing earnings surged nearly 45% in the first half of the year. Despite challenges in the Global Auto segment, Assurant remains optimistic about its full-year outlook, expecting high-single-digit growth in adjusted EBITDA and low-double-digit growth in adjusted EPS. These are among the recent developments. However, the company anticipates reportable catastrophe losses from Hurricane Beryl in Q3, estimated between $30 million to $50 million. Corporate adjusted EBITDA loss is expected to approximate $110 million in 2024. Despite the challenges, Assurant maintains a positive outlook for 2025, with expectations of positive year-over-year comparisons.
InvestingPro Insights
Assurant, Inc. (NYSE:AIZ) has been a topic of interest for investors, especially with the recent stock transaction by a top executive. To provide a broader perspective on the company's financial health and market performance, let's delve into some key metrics and insights from InvestingPro.
With a market capitalization of approximately $9.55 billion, Assurant presents itself as a substantial player in its industry. The company's P/E ratio, a measure of its current share price relative to its per-share earnings, stands at 12.18, with a slight adjustment to 11.62 when considering the last twelve months as of Q2 2024. This suggests that investors might find the stock reasonably valued in comparison to its earnings. Additionally, Assurant has shown a robust revenue growth of 9.34% over the last twelve months as of Q2 2024, indicating a solid upward trajectory in its financial performance.
An InvestingPro Tip worth noting is that Assurant has raised its dividend for 20 consecutive years, demonstrating the company's commitment to returning value to its shareholders. Moreover, the company's dividend yield as of the latest data is 1.61%, paired with a dividend growth of 2.86% over the last twelve months, reinforcing its reputation as a consistent dividend payer.
Investors should also be aware that Assurant is trading near its 52-week high, with the price at 97.28% of this peak. This could be an indicator of strong market confidence in the company's prospects or a signal for investors to watch for potential resistance levels.
For those seeking more in-depth analysis and additional InvestingPro Tips, there are currently 6 other tips listed on InvestingPro for Assurant, which can be accessed at https://www.investing.com/pro/AIZ. These insights could further inform investment strategies and decisions regarding Assurant's stock.
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