Arrowstreet Capital Limited Partnership Trims Stake in Loews Co. (NYSE:L)

Arrowstreet Capital Limited Partnership reduced its position in shares of Loews Co. (NYSE:L - Free Report) by 54.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 269,791 shares of the insurance provider's stock after selling 322,111 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.12% of Loews worth $22,849,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. State Street Corp lifted its position in Loews by 1.0% during the third quarter. State Street Corp now owns 8,077,241 shares of the insurance provider's stock valued at $638,506,000 after purchasing an additional 82,581 shares in the last quarter. Norges Bank purchased a new position in shares of Loews during the 4th quarter valued at about $623,493,000. Geode Capital Management LLC grew its stake in shares of Loews by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider's stock valued at $336,005,000 after acquiring an additional 53,428 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Loews by 0.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider's stock worth $268,640,000 after acquiring an additional 8,750 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Loews by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,623,291 shares of the insurance provider's stock worth $137,477,000 after acquiring an additional 11,540 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors.

Loews Price Performance

NYSE:L traded up $0.39 on Tuesday, reaching $81.28. 1,437,056 shares of the company's stock traded hands, compared to its average volume of 731,431. The stock has a 50-day simple moving average of $85.97 and a 200-day simple moving average of $83.85. Loews Co. has a 12 month low of $72.91 and a 12 month high of $92.42. The firm has a market cap of $17.10 billion, a PE ratio of 12.70 and a beta of 0.60. 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 - Get Free Report) last issued its earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a dividend of $0.0625 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.31%. Loews's dividend payout ratio is 3.91%.

Insider Activity at Loews

In other Loews news, Director Jonathan M. Tisch sold 50,000 shares of the 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 completion of the transaction, the director now owns 6,755,529 shares in the company, valued at $571,923,085.14. This trade represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan M. Tisch sold 3,691 shares of Loews stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 151,327 shares of company stock valued at $12,851,055. Corporate insiders own 18.70% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of 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.