Flynn Zito Capital Management LLC Takes $219,000 Position in Loews Co. (NYSE:L)

Flynn Zito Capital Management LLC purchased a new stake in shares of Loews Co. (NYSE:L) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,145 shares of the insurance provider’s stock, valued at approximately $219,000.

Several other large investors have also made changes to their positions in the company. Daiwa Securities Group Inc. increased its holdings in Loews by 5.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 16,833 shares of the insurance provider’s stock valued at $1,171,000 after purchasing an additional 839 shares during the last quarter. Desjardins Global Asset Management Inc. increased its holdings in Loews by 225.2% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 340 shares during the last quarter. Mackenzie Financial Corp increased its holdings in Loews by 41.5% in the fourth quarter. Mackenzie Financial Corp now owns 25,420 shares of the insurance provider’s stock valued at $1,769,000 after purchasing an additional 7,459 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Loews by 7.3% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 495,242 shares of the insurance provider’s stock valued at $34,464,000 after purchasing an additional 33,743 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new stake in Loews in the fourth quarter valued at about $403,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Buying and Selling

In other news, insider Jonathan M. Tisch sold 4,287 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $71.91, for a total value of $308,278.17. Following the transaction, the insider now directly owns 106,870 shares of the company’s stock, valued at $7,685,021.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Loews news, Director Andrew H. Tisch sold 125,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total transaction of $9,130,000.00. Following the sale, the director now directly owns 945,886 shares in the company, valued at $69,087,513.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan M. Tisch sold 4,287 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $71.91, for a total transaction of $308,278.17. Following the sale, the insider now owns 106,870 shares in the company, valued at $7,685,021.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,563 shares of company stock worth $10,052,551. 18.70% of the stock is owned by insiders.

Loews Trading Up 1.0 %

NYSE L traded up $0.70 on Thursday, reaching $73.84. The company had a trading volume of 649,019 shares, compared to its average volume of 759,407. Loews Co. has a 52 week low of $55.31 and a 52 week high of $78.55. The stock’s 50 day moving average is $75.39 and its 200-day moving average is $70.68. The stock has a market cap of $16.41 billion, a price-to-earnings ratio of 11.61 and a beta of 0.83. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.48.

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

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Wednesday, February 21st were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.34%. The ex-dividend date was Tuesday, February 20th. Loews’s payout ratio is 3.97%.

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.