Mackenzie Financial Corp Purchases 18,975 Shares of Assurant, Inc. (NYSE:AIZ)

Mackenzie Financial Corp boosted its position in shares of Assurant, Inc. (NYSE:AIZ) by 138.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 32,675 shares of the financial services provider’s stock after acquiring an additional 18,975 shares during the period. Mackenzie Financial Corp’s holdings in Assurant were worth $5,505,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BKM Wealth Management LLC bought a new position in Assurant during the fourth quarter valued at approximately $25,000. Parkside Financial Bank & Trust boosted its stake in Assurant by 353.8% during the first quarter. Parkside Financial Bank & Trust now owns 177 shares of the financial services provider’s stock valued at $31,000 after buying an additional 138 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its stake in Assurant by 104.6% during the third quarter. Harvest Fund Management Co. Ltd now owns 178 shares of the financial services provider’s stock valued at $26,000 after buying an additional 91 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in Assurant during the fourth quarter valued at approximately $40,000. Finally, First Capital Advisors Group LLC. bought a new position in Assurant during the second quarter valued at approximately $32,000. 92.65% of the stock is owned by institutional investors.

Assurant Trading Up 1.7 %

Shares of NYSE AIZ opened at $173.83 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.41 and a current ratio of 0.41. The business’s 50 day moving average price is $178.56 and its 200-day moving average price is $168.10. Assurant, Inc. has a fifty-two week low of $115.43 and a fifty-two week high of $189.48. The company has a market cap of $9.04 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 2.16 and a beta of 0.50.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $4.58 EPS for the quarter, topping the consensus estimate of $3.70 by $0.88. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.78 billion. Assurant had a return on equity of 18.36% and a net margin of 5.77%. On average, sell-side analysts expect that Assurant, Inc. will post 15.67 earnings per share for the current year.

Analysts Set New Price Targets

AIZ has been the topic of a number of recent research reports. UBS Group upped their price objective on Assurant from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Piper Sandler upped their price objective on Assurant from $195.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Finally, Keefe, Bruyette & Woods downgraded Assurant from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $170.00 to $182.00 in a research report on Monday, February 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Assurant has a consensus rating of “Moderate Buy” and an average price target of $192.20.

Assurant Company 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.