Bartlett & CO. Wealth Management LLC Grows Stake in Loews Co. (NYSE:L)

Bartlett & CO. Wealth Management LLC lifted its stake in shares of Loews Co. (NYSE:L) by 65.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,300 shares of the insurance provider’s stock after purchasing an additional 1,700 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Loews were worth $364,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp grew its stake in Loews by 1.0% during the 3rd quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock valued at $638,506,000 after acquiring an additional 82,581 shares in the last quarter. Geode Capital Management LLC grew its stake in Loews by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider’s stock valued at $336,005,000 after acquiring an additional 53,428 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Loews by 2.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,183,138 shares of the insurance provider’s stock valued at $251,627,000 after acquiring an additional 69,459 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Loews by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock valued at $127,409,000 after acquiring an additional 8,615 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Loews by 5.8% during the 2nd quarter. AQR Capital Management LLC now owns 820,800 shares of the insurance provider’s stock valued at $61,347,000 after acquiring an additional 45,237 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Loews from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th.

Insider Transactions at Loews

In other news, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $83.26, for a total value of $4,163,000.00. Following the transaction, the director now directly owns 11,939,677 shares in the company, valued at approximately $994,097,507.02. This represents a 0.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles M. Diker sold 1,146 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total transaction of $99,507.18. Following the completion of the transaction, the director now owns 19,906 shares in the company, valued at approximately $1,728,437.98. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,679 shares of company stock worth $11,134,916. 18.70% of the stock is currently owned by insiders.

Loews Stock Performance

Loews stock opened at $84.83 on Friday. The firm has a 50 day simple moving average of $84.60 and a 200-day simple moving average of $81.12. Loews Co. has a 1-year low of $71.45 and a 1-year high of $87.45. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. The stock has a market cap of $18.47 billion, a price-to-earnings ratio of 11.27 and a beta of 0.83.

Loews (NYSE:L) last posted its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.82 earnings per share for the quarter. Loews had a net margin of 9.71% and a return on equity of 9.70%. The business had revenue of $4.47 billion during the quarter.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th were issued a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. Loews’s dividend payout ratio is currently 3.32%.

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.