Bank of Montreal Can Sells 82,578 Shares of Loews Co. (NYSE:L)

Bank of Montreal Can decreased its stake in shares of Loews Co. (NYSE:L) by 24.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 249,631 shares of the insurance provider’s stock after selling 82,578 shares during the quarter. Bank of Montreal Can’s holdings in Loews were worth $21,141,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Venturi Wealth Management LLC boosted its position in shares of Loews by 10.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider’s stock valued at $105,000 after acquiring an additional 119 shares during the period. Wedmont Private Capital raised its stake in Loews by 5.2% in the 4th quarter. Wedmont Private Capital now owns 3,065 shares of the insurance provider’s stock worth $249,000 after purchasing an additional 151 shares in the last quarter. Mather Group LLC. boosted its holdings in Loews by 7.7% in the 4th quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider’s stock valued at $190,000 after purchasing an additional 161 shares during the period. Perigon Wealth Management LLC grew its position in shares of Loews by 5.9% during the 4th quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider’s stock worth $285,000 after purchasing an additional 183 shares in the last quarter. Finally, Aaron Wealth Advisors LLC increased its holdings in shares of Loews by 5.8% during the fourth quarter. Aaron Wealth Advisors LLC now owns 3,568 shares of the insurance provider’s stock worth $302,000 after purchasing an additional 196 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Loews

In other Loews news, Director Jonathan M. Tisch sold 50,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $84.66, for a total transaction of $4,233,000.00. Following the sale, the director now owns 6,755,529 shares of the company’s stock, valued at approximately $571,923,085.14. The trade was a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jonathan M. Tisch sold 3,691 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total transaction of $320,710.99. The disclosure for this sale can be found here. In the last quarter, insiders have sold 151,327 shares of company stock valued at $12,851,055. 18.70% of the stock is currently owned by corporate insiders.

Loews Stock Up 0.3 %

Shares of NYSE L opened at $84.61 on Friday. The stock has a market capitalization of $17.80 billion, a P/E ratio of 13.22 and a beta of 0.60. The stock’s fifty day moving average is $85.95 and its 200 day moving average is $84.01. Loews Co. has a 52 week low of $72.91 and a 52 week high of $92.42. 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 released its earnings results on Monday, February 10th. The insurance provider reported $0.86 EPS for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews’s payout ratio is presently 3.91%.

Loews 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.