In a recent transaction, Jenns Martin, the Executive Vice President (EVP) and President of Global Automotive at Assurant , Inc. (NYSE:AIZ), sold 1,500 shares of the company's common stock. The sale, which took place on August 12, 2024, amounted to over $267,000, with the weighted average price per share being $178.1324.
According to the details provided, the shares were sold at prices ranging from $178.01 to $178.31. After the transaction, Martin still held 4,026.667 shares of Assurant, Inc., which includes restricted stock units as indicated in the footnotes of the SEC filing.
Investors often keep a close eye on insider transactions as they may provide insights into the company's performance and future prospects. The sale by a high-ranking executive like Martin might be of particular interest to current and potential shareholders.
Assurant, Inc. is known for providing a diverse range of insurance products and is headquartered in Atlanta, Georgia. The company's stock is traded on the New York Stock Exchange under the ticker symbol AIZ.
In other recent news, Assurant Inc (NYSE:AIZ). has reported strong second-quarter results for 2024, 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%, with the Connected Living segment seeing a 6% rise in adjusted EBITDA due to new partnerships and programs. Global Housing earnings surged nearly 45% in the first half of the year, driven by new and renewed partnerships. 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. However, the Global Auto segment is anticipated to be flat to modestly down due to inflation and elevated GAP product losses. These are recent developments in Assurant's financial performance. The company also returned $80 million to shareholders, including $40 million in share repurchases. Assurant's investments in technology have enhanced customer experience and attracted new clients, contributing to its growth.
InvestingPro Insights
Assurant, Inc. (NYSE:AIZ) has demonstrated a commendable commitment to its shareholders, as evidenced by its consistent dividend history. The company has not only maintained but has raised its dividend for the past 20 years, signaling a strong dedication to returning value to investors. This trend is further supported by the company's recent financial performance, with analysts revising their earnings upwards for the upcoming period, hinting at continued financial health and stability.
On the financial metrics front, Assurant boasts a market capitalization of approximately $9.55 billion, reflecting its significant presence in the insurance industry. The company's P/E ratio stands at 12.18, with an adjusted P/E ratio for the last twelve months as of Q2 2024 slightly lower at 11.62, suggesting a potentially undervalued stock compared to its earnings. Additionally, Assurant's revenue growth of 9.34% over the last twelve months as of Q2 2024 indicates a robust expansion in its business operations.
For investors looking to delve deeper into Assurant's performance and strategic position, there are numerous additional InvestingPro Tips available, including insights on profitability, gross profit margins, and short-term liquidity concerns. As of now, there are 5 more tips listed on InvestingPro that could provide further clarity on Assurant's investment potential. For a comprehensive analysis, interested parties can explore these tips by visiting the dedicated page for Assurant on InvestingPro.
It's important to note that Assurant's stock is trading near its 52-week high, with a price percentage of the peak at 97.28%. This could be indicative of investor confidence and a positive market sentiment surrounding the company's stock. Moreover, Assurant is predicted to be profitable this year, which, combined with its strong dividend track record, may position it as an attractive option for income-focused investors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.