Cannell & Spears LLC Has $204,000 Stake in Loews Co. (NYSE:L)

Cannell & Spears LLC cut its holdings in shares of Loews Co. (NYSE:L) by 17.1% during the fourth quarter, Holdings Channel reports. The fund owned 2,405 shares of the insurance provider’s stock after selling 495 shares during the quarter. Cannell & Spears LLC’s holdings in Loews were worth $204,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Allstate Corp acquired a new position in shares of Loews in the fourth quarter valued at $785,000. Brown Brothers Harriman & Co. grew its stake in Loews by 183.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 15,460 shares of the insurance provider’s stock valued at $1,309,000 after buying an additional 10,000 shares during the last quarter. DnB Asset Management AS grew its stake in Loews by 6.3% in the 4th quarter. DnB Asset Management AS now owns 33,490 shares of the insurance provider’s stock valued at $2,836,000 after buying an additional 1,980 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in Loews by 16.5% in the 4th quarter. Orion Portfolio Solutions LLC now owns 21,695 shares of the insurance provider’s stock valued at $1,837,000 after acquiring an additional 3,078 shares during the period. Finally, Pictet Asset Management Holding SA lifted its position in Loews by 0.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 87,032 shares of the insurance provider’s stock worth $7,371,000 after acquiring an additional 712 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Analysts Set New Price Targets

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

Loews Trading Up 0.2 %

Shares of Loews stock opened at $92.08 on Wednesday. Loews Co. has a 52-week low of $72.91 and a 52-week high of $92.42. The stock has a market cap of $19.60 billion, a PE ratio of 14.39 and a beta of 0.80. The firm has a 50-day moving average of $86.01 and a 200-day moving average of $83.63. 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 earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders 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 0.27%. Loews’s dividend payout ratio is presently 3.91%.

Insider Activity

In other news, Director Jonathan M. Tisch sold 47,636 shares of the business’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 transaction, the director now directly owns 6,705,529 shares in the company, valued at approximately $569,165,301.52. The trade was a 0.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew H. Tisch sold 7,533 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total transaction of $635,408.55. Following the sale, the director now owns 1,568,191 shares in the company, valued at $132,276,910.85. This represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 158,860 shares of company stock worth $13,486,463. 18.70% of the stock is currently owned by company insiders.

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.