Loews Co. (NYSE:L) Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia grew its holdings in Loews Co. (NYSE:L) by 90.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 53,610 shares of the insurance provider’s stock after buying an additional 25,425 shares during the period. Bank of Nova Scotia’s holdings in Loews were worth $4,540,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of L. Miracle Mile Advisors LLC acquired a new position in Loews during the fourth quarter worth $315,000. Nordea Investment Management AB lifted 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 worth $1,323,000 after acquiring an additional 1,085 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Loews by 6.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider’s stock valued at $109,067,000 after acquiring an additional 77,386 shares during the period. Fidelis Capital Partners LLC acquired a new position in Loews in the 4th quarter valued at about $440,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Loews during the fourth quarter worth about $425,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Loews Trading Up 0.3 %

L opened at $84.61 on Friday. The business has a fifty day moving average price of $85.95 and a 200 day moving average price of $84.01. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. Loews Co. has a 12 month low of $72.91 and a 12 month high of $92.42. The stock has a market capitalization of $17.80 billion, a price-to-earnings ratio of 13.22 and a beta of 0.60.

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

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.30%. Loews’s payout ratio is 3.91%.

Insider Transactions at Loews

In other Loews news, Director Jonathan M. Tisch sold 3,691 shares of the firm’s stock in a transaction dated 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 SEC, which is accessible through this hyperlink. Also, Director Jonathan M. Tisch sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total value of $4,254,000.00. Following the completion of the sale, the director now directly owns 7,105,529 shares of the company’s stock, valued at $604,538,407.32. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 151,327 shares of company stock valued at $12,851,055. Insiders own 18.70% of the company’s stock.

Analyst Ratings Changes

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

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.