Thrivent Financial for Lutherans Has $4.42 Million Stock Holdings in Assurant, Inc. (NYSE:AIZ)

Thrivent Financial for Lutherans trimmed its holdings in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 33.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,202 shares of the financial services provider's stock after selling 11,117 shares during the quarter. Thrivent Financial for Lutherans' holdings in Assurant were worth $4,415,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Mizuho Securities USA LLC raised its stake in shares of Assurant by 11,480.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider's stock valued at $92,460,000 after purchasing an additional 460,937 shares during the period. AQR Capital Management LLC lifted its stake in Assurant by 32.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider's stock valued at $173,179,000 after acquiring an additional 255,471 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Assurant during the 3rd quarter worth approximately $284,730,000. TD Asset Management Inc grew its stake in shares of Assurant by 20.4% during the 2nd quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider's stock worth $94,118,000 after acquiring an additional 96,021 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Assurant by 751.0% in the third quarter. SG Americas Securities LLC now owns 60,674 shares of the financial services provider's stock valued at $12,066,000 after purchasing an additional 53,544 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Assurant Stock Performance

Shares of NYSE:AIZ traded up $1.31 on Monday, hitting $227.46. The company had a trading volume of 1,260,530 shares, compared to its average volume of 354,406. The stock has a market cap of $11.67 billion, a price-to-earnings ratio of 16.16 and a beta of 0.57. The stock has a 50 day moving average price of $200.13 and a 200 day moving average price of $184.43. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.40.

Assurant (NYSE:AIZ - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, beating analysts' consensus estimates of $2.52 by $0.48. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. Assurant had a net margin of 6.31% and a return on equity of 17.42%. Assurant's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.29 EPS. Analysts expect that Assurant, Inc. will post 15.41 EPS for the current year.

Assurant Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a dividend of $0.80 per share. This is a boost from Assurant's previous quarterly dividend of $0.72. This represents a $3.20 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Monday, December 9th. Assurant's dividend payout ratio (DPR) is presently 22.82%.

Insider Activity at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the sale, the executive vice president now owns 20,658 shares in the company, valued at $4,321,240.44. The trade was a 12.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AIZ shares. Keefe, Bruyette & Woods raised their price objective on Assurant from $194.00 to $212.00 and gave the company a "market perform" rating in a report on Tuesday, November 12th. Piper Sandler upped their price objective on Assurant from $200.00 to $217.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 2nd. StockNews.com cut shares of Assurant from a "buy" rating to a "hold" rating in a research note on Thursday, October 17th. Bank of America upped their price target on shares of Assurant from $228.00 to $233.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Finally, Truist Financial lifted their price objective on shares of Assurant from $220.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $225.20.

About Assurant

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.