Mackenzie Financial Corp Buys 4,452 Shares of Loews Co. (NYSE:L)

Mackenzie Financial Corp lifted its stake in Loews Co. (NYSE:L - Free Report) by 18.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,128 shares of the insurance provider's stock after buying an additional 4,452 shares during the quarter. Mackenzie Financial Corp's holdings in Loews were worth $2,467,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Loews during the fourth quarter worth about $26,000. Minot DeBlois Advisors LLC purchased a new stake in shares of Loews during the fourth quarter worth about $27,000. Itau Unibanco Holding S.A. grew its position in shares of Loews by 387.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider's stock worth $37,000 after purchasing an additional 345 shares in the last quarter. Human Investing LLC purchased a new stake in shares of Loews during the fourth quarter worth about $51,000. Finally, Graney & King LLC purchased a new stake in shares of Loews during the fourth quarter worth about $56,000. Institutional investors own 58.33% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Loews from a "hold" rating to a "buy" rating in a research report on Tuesday, May 6th.

Insider Buying and Selling at Loews

In other Loews news, SVP Richard Waldo Scott sold 9,019 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $87.92, for a total transaction of $792,950.48. Following the completion of the transaction, the senior vice president now owns 33,901 shares in the company, valued at $2,980,575.92. This trade represents a 21.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jonathan M. Tisch sold 47,636 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $84.88, for a total value of $4,043,343.68. Following the completion of the sale, the director now directly owns 6,705,529 shares of the company's stock, valued at $569,165,301.52. The trade was a 0.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 106,655 shares of company stock worth $9,069,294 in the last quarter. 19.00% of the stock is owned by corporate insiders.

Loews Price Performance

Shares of NYSE:L traded up $0.50 during trading on Friday, hitting $89.21. 1,596,589 shares of the company's stock were exchanged, compared to its average volume of 726,163. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. Loews Co. has a 52-week low of $73.15 and a 52-week high of $92.42. The business's 50-day simple moving average is $87.24 and its 200 day simple moving average is $85.76. The company has a market cap of $18.71 billion, a price-to-earnings ratio of 13.94 and a beta of 0.70.

Loews (NYSE:L - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The insurance provider reported $1.74 earnings per share for the quarter. The business had revenue of $4.49 billion during the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend is Wednesday, May 28th. Loews's dividend payout ratio is presently 4.11%.

Loews Company 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.