Mackenzie Financial Corp Trims Position in Assurant, Inc. (NYSE:AIZ)

Mackenzie Financial Corp cut its holdings in Assurant, Inc. (NYSE:AIZ - Free Report) by 95.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,775 shares of the financial services provider's stock after selling 34,338 shares during the quarter. Mackenzie Financial Corp's holdings in Assurant were worth $378,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in shares of Assurant by 36.7% in the fourth quarter. Bank of New York Mellon Corp now owns 3,320,590 shares of the financial services provider's stock worth $708,016,000 after acquiring an additional 891,292 shares during the last quarter. Norges Bank bought a new position in Assurant during the fourth quarter worth about $143,475,000. Millennium Management LLC increased its holdings in shares of Assurant by 1,499.1% in the fourth quarter. Millennium Management LLC now owns 344,128 shares of the financial services provider's stock worth $73,375,000 after acquiring an additional 322,608 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Assurant in the 4th quarter valued at about $34,365,000. Finally, Northern Trust Corp boosted its holdings in Assurant by 23.1% during the fourth quarter. Northern Trust Corp now owns 831,864 shares of the financial services provider's stock worth $177,370,000 after purchasing an additional 156,364 shares during the last quarter. 92.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

AIZ has been the topic of several research reports. Truist Financial upped their price target on shares of Assurant from $240.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Wall Street Zen upgraded shares of Assurant from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Piper Sandler raised Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price target on the stock in a research note on Thursday, April 10th. Morgan Stanley set a $217.00 price target on Assurant and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Assurant from $224.00 to $225.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Assurant currently has an average rating of "Moderate Buy" and an average target price of $228.67.

Insider Activity at Assurant

In other news, EVP Jay Rosenblum sold 1,000 shares of Assurant stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $201.93, for a total value of $201,930.00. Following the transaction, the executive vice president now owns 11,775 shares in the company, valued at approximately $2,377,725.75. The trade was a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.51% of the stock is owned by insiders.

Assurant Price Performance

Shares of Assurant stock traded down $2.70 during trading on Thursday, hitting $201.27. The stock had a trading volume of 506,526 shares, compared to its average volume of 422,921. The firm has a market cap of $10.24 billion, a price-to-earnings ratio of 13.91 and a beta of 0.59. Assurant, Inc. has a 12 month low of $160.12 and a 12 month high of $230.55. The business's 50-day moving average is $195.69 and its 200 day moving average is $206.56. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.41.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.78 by $0.61. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.06 billion. Assurant had a net margin of 6.40% and a return on equity of 17.25%. The firm's revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.78 EPS. As a group, sell-side analysts anticipate that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.59%. Assurant's dividend payout ratio (DPR) is 24.94%.

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.