Mackenzie Financial Corp Grows Stock Position in Loews Co. (NYSE:L)

Mackenzie Financial Corp increased its holdings in Loews Co. (NYSE:L) by 41.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,420 shares of the insurance provider’s stock after buying an additional 7,459 shares during the period. Mackenzie Financial Corp’s holdings in Loews were worth $1,769,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in L. NBC Securities Inc. acquired a new position in Loews in the 3rd quarter valued at about $29,000. Operose Advisors LLC acquired a new position in Loews in the 3rd quarter valued at about $30,000. Washington Trust Advisors Inc. acquired a new position in Loews in the 3rd quarter valued at about $51,000. Hanson & Doremus Investment Management acquired a new position in shares of Loews during the 3rd quarter valued at about $147,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of Loews during the 4th quarter valued at about $195,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Activity

In related news, SVP Richard Waldo Scott sold 7,325 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $74.12, for a total transaction of $542,929.00. Following the completion of the sale, the senior vice president now owns 51,965 shares of the company’s stock, valued at approximately $3,851,645.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Richard Waldo Scott sold 7,325 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $74.12, for a total transaction of $542,929.00. Following the completion of the sale, the senior vice president now owns 51,965 shares of the company’s stock, valued at approximately $3,851,645.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul J. Fribourg sold 951 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $75.02, for a total transaction of $71,344.02. Following the sale, the director now directly owns 21,200 shares of the company’s stock, valued at approximately $1,590,424. The disclosure for this sale can be found here. Insiders sold a total of 137,563 shares of company stock valued at $10,052,551 in the last 90 days. 18.70% of the stock is currently owned by insiders.

Loews Trading Up 0.4 %

NYSE L opened at $76.75 on Wednesday. Loews Co. has a 12 month low of $55.31 and a 12 month high of $78.55. The company has a 50-day moving average of $75.63 and a 200-day moving average of $71.11. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market cap of $17.05 billion, a P/E ratio of 12.18 and a beta of 0.83.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, February 5th. The insurance provider reported $1.99 EPS for the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%. The company had revenue of $4.26 billion during the quarter.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Wednesday, February 21st were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date was Tuesday, February 20th. Loews’s dividend payout ratio is currently 3.97%.

Loews Profile

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.