Mackenzie Financial Corp Raises Stock Holdings in Loews Corporation (NYSE:L)

Key Points

• Mackenzie Financial Corp has increased its holdings in Loews Corporation by 122.1%, owning a total of 64,688 shares valued at approximately $5,945,000.
• Loews Corporation recently reported $1.74 earnings per share and a revenue of $4.49 billion for the last quarter, coupled with a net margin of 7.47%.
• The company declared a quarterly dividend of $0.0625, representing an annualized dividend yield of 0.3%.

Mackenzie Financial Corp lifted its position in Loews Corporation (NYSE:L - Free Report) by 122.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 64,688 shares of the insurance provider's stock after purchasing an additional 35,560 shares during the period. Mackenzie Financial Corp's holdings in Loews were worth $5,945,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Wayfinding Financial LLC purchased a new position in shares of Loews in the 1st quarter valued at approximately $25,000. Sierra Ocean LLC grew its stake in Loews by 805.9% in the first quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock worth $28,000 after purchasing an additional 274 shares during the period. Minot DeBlois Advisors LLC purchased a new position in Loews during the fourth quarter valued at $27,000. Itau Unibanco Holding S.A. boosted its holdings in shares of Loews by 387.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider's stock valued at $37,000 after buying an additional 345 shares in the last quarter. Finally, NBC Securities Inc. purchased a new stake in shares of Loews in the 1st quarter worth about $40,000. Institutional investors own 58.33% of the company's stock.

Insider Buying and Selling

In related news, SVP Richard Waldo Scott sold 9,019 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $87.92, for a total transaction of $792,950.48. Following the sale, the senior vice president directly owned 33,901 shares of the company's stock, valued at approximately $2,980,575.92. This represents a 21.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 18.70% of the company's stock.

Loews Stock Up 2.9%

NYSE:L traded up $2.58 during mid-day trading on Monday, hitting $92.87. 823,505 shares of the company's stock were exchanged, compared to its average volume of 809,945. Loews Corporation has a one year low of $75.16 and a one year high of $93.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.33 and a quick ratio of 0.33. The business has a fifty day moving average price of $90.13 and a 200 day moving average price of $87.61. The company has a market cap of $19.47 billion, a PE ratio of 14.83 and a beta of 0.69.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The insurance provider reported $1.87 EPS for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, May 28th. Loews's dividend payout ratio is 4.11%.

Wall Street Analyst Weigh In

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

About Loews

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.