Loews Co. (NYSE:L) Shares Sold by Mill Capital Management LLC

Mill Capital Management LLC reduced its position in shares of Loews Co. (NYSE:L) by 1.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 11,200 shares of the insurance provider’s stock after selling 200 shares during the quarter. Mill Capital Management LLC’s holdings in Loews were worth $949,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in Loews by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock worth $127,409,000 after purchasing an additional 8,615 shares in the last quarter. Miracle Mile Advisors LLC purchased a new position in Loews during the 4th quarter valued at about $315,000. Swedbank AB grew its stake in Loews by 8.8% during the 3rd quarter. Swedbank AB now owns 379,647 shares of the insurance provider’s stock valued at $30,011,000 after acquiring an additional 30,600 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Loews by 47.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 37,319 shares of the insurance provider’s stock valued at $2,950,000 after acquiring an additional 12,070 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in Loews by 7.5% during the 4th quarter. Nordea Investment Management AB now owns 15,619 shares of the insurance provider’s stock valued at $1,323,000 after acquiring an additional 1,085 shares in the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Jonathan M. Tisch sold 3,691 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total transaction of $320,710.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan M. Tisch sold 47,636 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $84.88, for a total value of $4,043,343.68. Following the transaction, the director now owns 6,705,529 shares of the company’s stock, valued at approximately $569,165,301.52. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 158,860 shares of company stock worth $13,486,463. 18.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, StockNews.com cut Loews from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

Loews Trading Down 1.1 %

Shares of NYSE L opened at $87.22 on Monday. The stock has a market cap of $18.57 billion, a price-to-earnings ratio of 13.63 and a beta of 0.80. The business has a 50 day simple moving average of $85.23 and a 200 day simple moving average of $83.07. Loews Co. has a 52 week low of $72.91 and a 52 week high of $88.66. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 EPS for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.0625 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 annualized dividend and a yield of 0.29%. Loews’s dividend payout ratio (DPR) is currently 3.91%.

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.