Loews Co. (NYSE:L) Stake Cut by Vanguard Group Inc.

Vanguard Group Inc. lessened its holdings in Loews Co. (NYSE:L) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 20,941,567 shares of the insurance provider’s stock after selling 232,195 shares during the period. Vanguard Group Inc. owned 0.10% of Loews worth $1,773,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Loews in the 4th quarter valued at about $26,000. Brooklyn Investment Group acquired a new position in Loews in the third quarter valued at approximately $40,000. Wilmington Savings Fund Society FSB bought a new position in shares of Loews during the third quarter valued at approximately $49,000. Human Investing LLC acquired a new stake in shares of Loews during the 4th quarter worth approximately $51,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of Loews during the 4th quarter worth approximately $68,000. Institutional investors own 58.33% of the company’s stock.

Insiders Place Their Bets

In related news, Director Andrew H. Tisch sold 7,533 shares of the business’s 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 of the company’s stock, valued at $132,276,910.85. The trade was a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan M. Tisch sold 47,636 shares of the stock in a transaction 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 transaction, the director now directly owns 6,705,529 shares of the company’s stock, valued at approximately $569,165,301.52. The trade was a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 158,860 shares of company stock worth $13,486,463. 18.70% of the stock is owned by company insiders.

Loews Stock Up 1.5 %

L stock opened at $90.52 on Thursday. The stock has a market cap of $19.27 billion, a PE ratio of 14.14 and a beta of 0.80. The firm’s 50-day simple moving average is $85.58 and its 200 day simple moving average is $83.24. Loews Co. has a fifty-two week low of $72.91 and a fifty-two week high of $90.89. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50.

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 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 0.28%. The ex-dividend date was Wednesday, February 26th. Loews’s payout ratio is currently 3.91%.

Analyst Upgrades and Downgrades

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

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.