Market Summary
USD142.59+1.86
Delayedas of 20 Sep 2023, 01:40 pm1.32%
AIZ Stock Price
AIZ RSI Chart
AIZ Valuation
AIZ Price/Sales (Trailing)
AIZ Profitability
AIZ Fundamentals
AIZ Revenue
AIZ Earnings
Price Action
52 Week Range
104.49153.75
(Low)(High)
Last 7 days
-0.2%
Last 30 days
0.0%
Last 90 days
7.2%
Trailing 12 Months
-8.2%
AIZ Financial Health
AIZ Investor Care
Historical Charts for Stock Metrics
Get all data in R, Python etc through our Historical Stock Data APIs
Net sales
Get all data in R, Python etc through our Historical Stock Data APIs
Latest Insider Trading transactions for AIZ
Filter Transactions| Datesorted ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
|---|---|---|---|---|---|---|
2023-08-14 | DZIADZIO RICHARD S | sold | -572,778 | 143 | -4,000 | evp and cfo |
2023-08-07 | Luthi Francesca | sold | -529,081 | 142 | -3,700 | evp, cao |
2023-08-04 | Lonergan Robert | sold | -433,303 | 144 | -3,000 | evp |
2023-07-15 | Rosenblum Jay | sold (taxes) | -100,768 | 125 | -800 | evp and clo |
2023-07-15 | Luthi Francesca | sold (taxes) | -166,267 | 125 | -1,320 | evp, cao |
2023-06-22 | DZIADZIO RICHARD S | sold | -524,286 | 131 | -4,000 | evp and cfo |
2023-05-26 | DiRienzo Dimitry | sold | -99,196 | 123 | -800 | svp, cao, controller |
2023-05-18 | Demmings Keith | sold (taxes) | -43,490 | 131 | -330 | president and ceo |
2023-05-12 | Alves Paget Leonard | acquired | - | - | 1,235 | - |
2023-05-12 | Carter J Braxton II | acquired | - | - | 1,235 | - |
Which funds bought or sold AIZ recently?
View All Details| Datesorted ascending | Fund Name | Type | % Chg | $ Change | $ Held | % Portfolio |
|---|---|---|---|---|---|---|
2023-09-12 | Farther Finance Advisors, LLC | reduced | -21.57 | -1,095 | 5,029 | -% |
2023-08-25 | Yarbrough Capital, LLC | unchanged | - | 23,860 | 530,916 | 0.03% |
2023-08-22 | Old North State Trust, LLC | sold off | -100 | -27,000 | - | -% |
2023-08-22 | COMERICA BANK | new | - | 1,000 | 1,000 | -% |
2023-08-22 | COMERICA BANK | new | - | - | - | -% |
2023-08-22 | US Asset Management LLC | unchanged | - | 23,000 | 512,000 | 0.54% |
2023-08-21 | TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY | reduced | -11.38 | -47,000 | 600,000 | 0.01% |
2023-08-21 | OSAIC HOLDINGS, INC. | added | 387 | 619,665 | 770,498 | -% |
2023-08-21 | CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | reduced | -3.84 | 75,158 | 11,108,900 | 0.02% |
2023-08-17 | Orion Portfolio Solutions, LLC | reduced | -1.12 | 24,739 | 724,147 | 0.01% |
Latest Funds Activity
Calls
Puts
Net Call Options
No. of Funds
Schedule 13G FIlings of Assurant
| Date Filed | Name of Filer | Percent of Class | No. of Shares | Form Type | |
|---|---|---|---|---|---|
| Feb 14, 2023 | t. rowe price investment management, inc. | 10.8% | 5,694,084 | SC 13G/A | |
| Feb 09, 2023 | fmr llc | - | 0 | SC 13G/A | |
| Feb 09, 2023 | vanguard group inc | 13.34% | 7,048,915 | SC 13G/A | |
| Feb 08, 2023 | state street corp | 5.39% | 2,848,731 | SC 13G/A | |
| Jan 26, 2023 | blackrock inc. | 10.7% | 5,662,762 | SC 13G/A | |
| Jan 20, 2023 | blackrock inc. | 10.7% | 5,662,762 | SC 13G/A | |
| Sep 08, 2022 | blackrock inc. | 10.1% | 5,386,534 | SC 13G | |
| Feb 14, 2022 | price t rowe associates inc /md/ | 10.7% | 6,144,501 | SC 13G/A | |
| Feb 10, 2022 | state street corp | 5.44% | 3,100,539 | SC 13G/A | |
| Feb 09, 2022 | vanguard group inc | 12.05% | 6,864,464 | SC 13G/A |
Recent SEC filings of Assurant
View All Filings| Date Filed | Form Type | Document | |
|---|---|---|---|
| Aug 15, 2023 | 4 | Insider Trading | |
| Aug 14, 2023 | 144 | Notice of Insider Sale Intent | |
| Aug 08, 2023 | 4 | Insider Trading | |
| Aug 08, 2023 | 4 | Insider Trading | |
| Aug 07, 2023 | 144 | Notice of Insider Sale Intent | |
| Aug 04, 2023 | 144 | Notice of Insider Sale Intent | |
| Aug 03, 2023 | 10-Q | Quarterly Report | |
| Aug 01, 2023 | 8-K | Current Report | |
| Jul 18, 2023 | 4 | Insider Trading | |
| Jul 18, 2023 | 4 | Insider Trading |
AIZ Fair Value
Loading...
Peers (Alternatives to Assurant)
View All Peers In Detail| Name | Mkt Capsorted ascending | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|
| LARGE-CAP | ||||||||
PGR | 83.3B | 55.3B | 6.38% | 11.93% | 47.79 | 1.51 | 11.39% | 104.72% |
MET | 50.2B | 70.6B | 6.59% | 0.80% | 22.58 | 0.71 | 4.01% | -58.32% |
AFL | 46.5B | 18.8B | 3.95% | 29.68% | 10.1 | 2.47 | -11.15% | 5.38% |
TRV | 38.3B | 38.7B | 2.91% | 2.81% | 17.13 | 0.99 | 8.33% | -37.32% |
PFG | 18.7B | 14.1B | 1.06% | -0.19% | 11.51 | 1.33 | -18.38% | -62.12% |
| MID-CAP | ||||||||
UNM | 9.2B | 12.1B | 0.74% | 21.07% | 6.51 | 0.77 | 1.23% | 31.52% |
AIZ | 7.5B | 10.6B | 0.01% | -8.21% | 21.6 | 0.71 | 3.62% | -71.27% |
GNW | 2.8B | 7.5B | 3.28% | 52.94% | 5.19 | 0.37 | -1.40% | -38.58% |
CNO | 2.7B | 3.9B | 2.49% | 21.99% | 12.28 | 0.7 | 4.46% | -65.00% |
TRUP | 1.2B | 1.0B | 2.23% | -55.11% | -20.07 | 1.21 | 25.60% | -67.04% |
RGA | - | 16.8B | 7.35% | 14.05% | - | - | 3.86% | 92.43% |
| SMALL-CAP | ||||||||
PLMR | 1.3B | 348.9M | 2.75% | -38.18% | 23 | 3.82 | 16.85% | 25.90% |
HMN | 1.2B | 1.4B | 1.93% | -21.70% | -111.09 | 0.86 | 3.44% | -114.81% |
JRVR | 562.0M | 901.0M | -2.03% | -39.05% | 12.11 | 0.62 | 14.76% | 164.17% |
Assurant News
Returns for AIZ
Cumulative Returns on AIZ
12.3%
10-Year Cumulative Returns
8.8%
7-Year Cumulative Returns
7.8%
5-Year Cumulative Returns
7.1%
3-Year Cumulative Returns
Risks for AIZ
What is the probability of a big loss on AIZ?
55.8%
Probability that Assurant stock will be more than 20% underwater in next one year
35.8%
Probability that Assurant stock will be more than 30% underwater in next one year.
4.2%
Probability that Assurant stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.
How does AIZ drawdown profile look like?
Y-axis is the maximum loss one would have experienced if Assurant was unfortunately bought at previous high price.
Drawdowns
Financials for Assurant
Income Statement (Last 12 Months)(In Millions)
| Income Statement (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Revenue | 2.1% | 10,575 | 10,353 | 10,193 | 10,115 | 10,205 | 10,238 | 10,188 | 10,031 | 9,770 | 9,579 | 9,596 | 9,784 | 9,906 | 10,100 | 10,087 | 9,797 | 9,568 | 8,855 | 8,058 | 7,417 | 6,733 |
| S&GA Expenses | - | - | - | - | - | - | 3,307 | 3,246 | 4,005 | 3,860 | 3,838 | 3,048 | 3,089 | 3,181 | 3,279 | 3,187 | 3,139 | 3,111 | 3,061 | 2,980 | 2,975 | 2,906 |
| EBITDA | -100.0% | - | 613 | 640 | 706 | 886 | 1,049 | 1,066 | 1,081 | 999 | 974 | 879 | 874 | 731 | 685 | 791 | - | - | - | - | - | - |
| EBITDA Margin | -100.0% | - | 0.06* | 0.06* | 0.07* | 0.10* | 0.10* | 0.10* | 0.11* | 0.10* | 0.10* | 0.09* | 0.09* | 0.07* | 0.07* | 0.08* | - | - | - | - | - | - |
| Interest Expenses | 0% | 108 | 108 | 108 | 108 | 109 | 110 | 112 | 112 | 110 | 107 | 105 | 103 | 110 | 110 | 111 | 112 | 106 | 105 | 100 | 86.00 | 72.00 |
| Earnings Before Taxes | 41.8% | 456 | 322 | 350 | 412 | 592 | 762 | 771 | 772 | 696 | 666 | 581 | 601 | 464 | 438 | 555 | 419 | 519 | 414 | 334 | 449 | 266 |
| EBT Margin | -100.0% | - | 0.03* | 0.03* | 0.04* | 0.07* | 0.07* | 0.08* | 0.08* | 0.07* | 0.07* | 0.06* | 0.06* | 0.05* | 0.04* | 0.05* | - | - | - | - | - | - |
| Net Income | 43.2% | 345 | 241 | 277 | 329 | 1,202 | 1,356 | 1,357 | 1,371 | 456 | 424 | 423 | 412 | 387 | 353 | 364 | 261 | 369 | 292 | 237 | 529 | 424 |
| Net Income Margin | -100.0% | - | 0.02* | 0.03* | 0.03* | 0.14* | 0.13* | 0.13* | 0.14* | 0.05* | 0.05* | 0.04* | 0.04* | 0.04* | 0.04* | 0.04* | - | - | - | - | - | - |
| Free Cashflow | -100.0% | - | 1,164 | 411 | 385 | -264 | 510 | 594 | 796 | 1,419 | 908 | 1,221 | 1,026 | 881 | 944 | 1,303 | - | - | - | - | - | - |
Balance Sheet(In Millions)
| Balance Sheet | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Assets | 0.6% | 33,105 | 32,915 | 33,117 | 33,246 | 31,729 | 33,023 | 33,921 | 33,625 | 45,995 | 44,411 | 44,650 | 43,583 | 44,233 | 43,423 | 44,291 | 43,752 | 43,140 | 42,237 | 41,089 | 43,443 | 42,361 |
| Cash Equivalents | -8.1% | 1,402 | 1,526 | 1,537 | 1,430 | 1,182 | 1,251 | 2,055 | 2,028 | 2,746 | 1,651 | 2,208 | 2,189 | 2,108 | 1,996 | 1,858 | 1,749 | 1,490 | 1,274 | 1,254 | 1,307 | 1,254 |
| Net PPE | -4.2% | 643 | 671 | 645 | 618 | 609 | 585 | 561 | 529 | 495 | 469 | 446 | 468 | 450 | 438 | 434 | 419 | 419 | 410 | 393 | 382 | 371 |
| Goodwill | 0.1% | 2,606 | 2,604 | 2,603 | 2,547 | 2,558 | 2,569 | 2,572 | 2,580 | 2,589 | 2,586 | 2,589 | 2,326 | 2,441 | 2,336 | 2,205 | 2,331 | 2,338 | 2,331 | 2,322 | 2,313 | 2,369 |
| Liabilities | 0.4% | 28,619 | 28,519 | 28,889 | 29,147 | 27,269 | 28,002 | 28,457 | 27,880 | 40,086 | 38,585 | 38,695 | 37,643 | 38,249 | 38,037 | 38,609 | 38,061 | 37,379 | 36,765 | 35,955 | 38,203 | 37,028 |
| Shareholder's Equity | 2.0% | 4,486 | 4,396 | 4,229 | 4,099 | 4,460 | 4,999 | 5,464 | 5,721 | 5,888 | 5,803 | 5,940 | 5,940 | 5,985 | 5,386 | 5,668 | 5,690 | 5,760 | 5,472 | 5,134 | 5,240 | 5,333 |
| Retained Earnings | 2.7% | 3,877 | 3,776 | 3,699 | 3,679 | 3,774 | 3,977 | 4,041 | 4,219 | 3,640 | 3,636 | 3,549 | 6,126 | 6,194 | 6,061 | 5,966 | 5,883 | 5,981 | 5,880 | 5,760 | 5,777 | 5,846 |
| Additional Paid-In Capital | 0.7% | 1,654 | 1,642 | 1,638 | 1,627 | 1,630 | 1,652 | 1,695 | 1,731 | 1,786 | 1,804 | 1,957 | 4,568 | 4,550 | 4,541 | 4,538 | 4,525 | 4,509 | 4,496 | 4,496 | 4,479 | 4,460 |
| Shares Outstanding | -0.2% | 53.00 | 53.00 | 53.00 | 53.00 | 55.00 | 56.00 | 56.00 | 59.00 | 61.00 | 59.00 | 58.00 | 60.00 | 60.00 | 61.00 | 60.00 | 62.00 | 62.00 | 63.00 | 62.00 | 64.00 | 57.00 |
| Minority Interest | - | - | - | - | - | - | - | - | - | - | 3.00 | 3.00 | 4.00 | 17.00 | 16.00 | 29.00 | 32.00 | 30.00 | 31.00 | 22.00 | 20.00 | 20.00 |
Cashflow (Last 12 Months)(In Millions)
| Cashflow (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Cashflow From Operations | 0.9% | 1,370 | 1,358 | 597 | 575 | -75.40 | 699 | 782 | 967 | 1,579 | 1,047 | 1,342 | 1,147 | 980 | 1,043 | 1,413 | 1,370 | 1,210 | 979 | 657 | 619 | 703 |
| Share Based Compensation | 0.5% | 63.00 | 63.00 | 63.00 | 65.00 | 66.00 | 66.00 | 67.00 | 65.00 | 62.00 | 60.00 | 58.00 | 57.00 | 57.00 | 56.00 | 56.00 | 59.00 | 61.00 | 59.00 | 57.00 | 52.00 | 43.00 |
| Cashflow From Investing | -78.4% | -852 | -478 | -262 | -14.00 | 231 | 130 | 158 | -423 | -669 | -902 | -735 | -281 | -42.40 | 9.00 | -619 | -911 | -1,297 | -2,728 | -2,202 | -2,203 | -2,059 |
| Cashflow From Financing | 49.7% | -293 | -583 | -818 | -1,099 | -1,693 | -1,214 | -1,089 | -725 | -297 | -509 | -264 | -425 | -285 | -308 | -179 | -2.50 | 312 | 715 | 1,838 | 1,933 | 1,810 |
| Dividend Payments | 0.7% | 151 | 150 | 150 | 152 | 154 | 157 | 158 | 158 | 157 | 155 | 155 | 154 | 153 | 152 | 151 | 151 | 149 | 142 | 134 | 126 | 120 |
| Buy Backs | -63.8% | 124 | 343 | 573 | 853 | 1,083 | 1,027 | 839 | 687 | 434 | 282 | 297 | 262 | 260 | 278 | 272 | 216 | 231 | 182 | 139 | 219 | 177 |
AIZ Income Statement
2023-06-30Consolidated Statements of Operations (unaudited) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
| Revenues | ||||
| Net earned premiums | $ 2,343.0 | $ 2,168.9 | $ 4,608.5 | $ 4,305.3 |
| Fees and other income | 295.7 | 325.2 | 578.4 | 647.6 |
| Net investment income | 112.9 | 92.0 | 218.1 | 178.3 |
| Net realized losses on investments (including $3.1, $1.6, $5.6, and $2.1 of impairment-related losses for the three and six months ended June 30, 2023 and 2022, respectively) and fair value changes to equity securities | (20.0) | (76.4) | (30.6) | (138.8) |
| Total revenues | 2,731.6 | 2,509.7 | 5,374.4 | 4,992.4 |
| Benefits, losses and expenses | ||||
| Policyholder benefits | 632.5 | 600.0 | 1,278.1 | 1,090.0 |
| Underwriting, selling, general and administrative expenses | 1,867.6 | 1,811.7 | 3,690.8 | 3,602.3 |
| Interest expense | 27.2 | 27.2 | 54.2 | 54.1 |
| (Gain) loss on extinguishment of debt | 0.0 | 0.9 | (0.1) | 0.9 |
| Total benefits, losses and expenses | 2,527.3 | 2,439.8 | 5,023.0 | 4,747.3 |
| Income before income tax expense | 204.3 | 69.9 | 351.4 | 245.1 |
| Income tax expense | 48.0 | 17.7 | 81.5 | 43.9 |
| Net income | $ 156.3 | $ 52.2 | $ 269.9 | $ 201.2 |
| Earnings Per Common Share | ||||
| Basic (in dollars per share) | $ 2.91 | $ 0.96 | $ 5.03 | $ 3.65 |
| Diluted (in dollars per share) | $ 2.90 | $ 0.95 | $ 5.01 | $ 3.61 |
| Share Data | ||||
| Weighted average common shares outstanding used in basic per common share calculations (in shares) | 53,745,611 | 54,607,321 | 53,619,711 | 55,190,104 |
| Plus: Dilutive securities (in shares) | 144,071 | 407,626 | 223,324 | 473,842 |
| Weighted average common shares outstanding used in diluted per common share calculations (in shares) | 53,889,682 | 55,014,947 | 53,843,035 | 55,663,946 |
AIZ Balance Sheet
2023-06-30Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 | ||
|---|---|---|---|---|
| Investments: | ||||
| Fixed maturity securities available for sale, at fair value (amortized cost - $7,210.8 and $6,920.8 at June 30, 2023 and December 31, 2022, respectively) | $ 6,617.8 | $ 6,283.7 | ||
| Equity securities at fair value | 259.6 | 281.3 | ||
| Commercial mortgage loans on real estate, at amortized cost (net of allowances for credit losses of $3.1 and $1.8 at June 30, 2023 and December 31, 2022) | 302.7 | 295.6 | ||
| Short-term investments | 279.7 | 155.5 | ||
| Other investments | 528.8 | 508.4 | ||
| Total investments | 7,988.6 | 7,524.5 | ||
| Cash and cash equivalents | 1,401.7 | 1,536.7 | ||
| Premiums and accounts receivable (net of allowances for credit losses of $8.6 and $9.2 at June 30, 2023 and December 31, 2022, respectively) | 2,342.3 | 2,406.4 | ||
| Reinsurance recoverables (net of allowances for credit losses of $4.8 and $5.4 at June 30, 2023 and December 31, 2022, respectively) | 6,636.6 | 6,999.4 | ||
| Accrued investment income | 90.7 | 85.1 | ||
| Deferred acquisition costs | 9,818.5 | 9,677.1 | ||
| Property and equipment, net | 642.7 | 645.1 | ||
| Goodwill | 2,606.3 | 2,603.0 | ||
| Value of business acquired | 166.4 | 262.8 | ||
| Other intangible assets, net | 608.4 | 638.9 | ||
| Other assets (net of allowances for credit losses of $1.2 and $1.7 at June 30, 2023 and December 31, 2022, respectively) (1) | [1] | 802.5 | 738.3 | |
| Total assets | 33,104.7 | 33,117.3 | ||
| Liabilities | ||||
| Future policy benefits and expenses | 523.4 | 507.9 | ||
| Unearned premiums | 19,931.3 | 19,802.4 | ||
| Claims and benefits payable | 2,020.3 | 2,210.0 | ||
| Commissions payable | 626.7 | 647.5 | ||
| Reinsurance balances payable | 482.6 | 492.8 | ||
| Funds held under reinsurance | 376.2 | 366.6 | ||
| Accounts payable and other liabilities (including allowances for credit losses of $10.5 and $10.3 at June 30, 2023 and December 31, 2022, respectively, for the unsecured portion of the high deductible recoverables) | 2,528.8 | 2,731.5 | ||
| Debt | 2,129.4 | 2,129.9 | ||
| Total liabilities | 28,618.7 | 28,888.6 | ||
| Commitments and contingencies (Note 15) | ||||
| Stockholders’ equity | ||||
| Common stock, par value $0.01 per share, 800,000,000 shares authorized, 55,304,730 and 55,126,470 shares issued and 53,008,641 and 52,830,381 shares outstanding at June 30, 2023 and December 31, 2022, respectively | 0.6 | 0.6 | ||
| Additional paid-in capital | 1,653.7 | 1,637.8 | ||
| Retained earnings | 3,877.2 | 3,699.3 | ||
| Accumulated other comprehensive loss | (922.7) | (986.2) | ||
| Treasury stock, at cost; 2,296,089 shares at June 30, 2023 and December 31, 2022 | (122.8) | (122.8) | ||
| Total equity | 4,486.0 | 4,228.7 | ||
| Total liabilities and equity | $ 33,104.7 | $ 33,117.3 | ||
| ||||
Assurant, Inc., together with its subsidiaries, provides lifestyle and housing solutions that support, protect, and connect consumer purchases in North America, Latin America, Europe, and the Asia Pacific. The company operates through two segments: Global Lifestyle and Global Housing. The Global Lifestyle segment offers mobile device solutions, and extended service products and related services for mobile devices, consumer electronics, and appliances; vehicle protection and related services; and credit protection and other insurance products. The Global Housing segment provides lender-placed homeowners insurance, manufactured housing, and flood insurance; and renters insurance and related products, as well as voluntary manufactured housing insurance, voluntary homeowners insurance, and other specialty products. The company was formerly known as Fortis, Inc. and changed its name to Assurant, Inc. in February 2004. Assurant, Inc. was founded in 1892 and is headquartered in New York, New York.