Thrivent Financial for Lutherans decreased its stake in Assurant, Inc. (NYSE:AIZ – Free Report) by 33.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,202 shares of the financial services provider’s stock after selling 11,117 shares during the period. Thrivent Financial for Lutherans’ holdings in Assurant were worth $4,415,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of AIZ. SteelPeak Wealth LLC increased its holdings in shares of Assurant by 770.1% during the 2nd quarter. SteelPeak Wealth LLC now owns 13,051 shares of the financial services provider’s stock worth $2,170,000 after purchasing an additional 11,551 shares during the period. QRG Capital Management Inc. raised its holdings in Assurant by 44.9% in the 2nd quarter. QRG Capital Management Inc. now owns 12,614 shares of the financial services provider’s stock valued at $2,097,000 after acquiring an additional 3,909 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Assurant by 443.7% in the 1st quarter. Cetera Investment Advisers now owns 12,973 shares of the financial services provider’s stock worth $2,442,000 after acquiring an additional 10,587 shares during the period. Bayesian Capital Management LP acquired a new stake in shares of Assurant during the 1st quarter worth approximately $1,058,000. Finally, Tidal Investments LLC increased its position in shares of Assurant by 256.5% during the first quarter. Tidal Investments LLC now owns 8,979 shares of the financial services provider’s stock valued at $1,690,000 after purchasing an additional 6,460 shares during the period. Institutional investors own 92.65% of the company’s stock.
Assurant Stock Up 0.4 %
Shares of AIZ opened at $226.15 on Monday. The company has a market capitalization of $11.60 billion, a P/E ratio of 16.13, a PEG ratio of 2.19 and a beta of 0.57. Assurant, Inc. has a one year low of $160.12 and a one year high of $227.16. The business’s 50 day simple moving average is $200.13 and its 200-day simple moving average is $184.37. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.42 and a quick ratio of 0.42.
Assurant Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, December 9th. This is an increase from Assurant’s previous quarterly dividend of $0.72. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.41%. Assurant’s payout ratio is currently 20.54%.
Insider Transactions at Assurant
In related news, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the transaction, the executive vice president now owns 20,658 shares in the company, valued at $4,321,240.44. This trade represents a 12.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on AIZ. UBS Group increased their price objective on shares of Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Piper Sandler raised their price target on shares of Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Truist Financial upped their price objective on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Bank of America raised their target price on Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods upped their price target on Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Assurant presently has an average rating of “Moderate Buy” and a consensus target price of $225.20.
Assurant Profile
Assurant, Inc, together with its subsidiaries, provides business services that supports, protects, and connects 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 contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.
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