Loews Co. (NYSE:L) Shares Sold by Bank of Montreal Can

Bank of Montreal Can decreased its holdings in shares of Loews Co. (NYSE:L - Free Report) by 24.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 249,631 shares of the insurance provider's stock after selling 82,578 shares during the period. Bank of Montreal Can owned approximately 0.11% of Loews worth $21,141,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Venturi Wealth Management LLC raised its stake in shares of Loews by 10.6% during the 4th quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider's stock worth $105,000 after buying an additional 119 shares in the last quarter. Wedmont Private Capital boosted its position in shares of Loews by 5.2% during 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. grew its stake in shares of Loews by 7.7% during the 4th quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider's stock worth $190,000 after purchasing an additional 161 shares during the period. Perigon Wealth Management LLC increased its holdings in shares of Loews by 5.9% in the 4th quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider's stock valued at $285,000 after purchasing an additional 183 shares in the last quarter. Finally, Aaron Wealth Advisors LLC lifted its stake in shares of Loews by 5.8% in the fourth quarter. Aaron Wealth Advisors LLC now owns 3,568 shares of the insurance provider's stock valued at $302,000 after purchasing an additional 196 shares during the period. Hedge funds and other institutional investors own 58.33% of the company's stock.

Loews Price Performance

Shares of L stock traded up $0.58 during mid-day trading on Thursday, reaching $85.78. The stock had a trading volume of 146,188 shares, compared to its average volume of 733,127. Loews Co. has a 12-month low of $72.91 and a 12-month high of $92.42. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The business has a 50-day simple moving average of $85.91 and a 200 day simple moving average of $84.12. The company has a market cap of $18.04 billion, a P/E ratio of 13.40 and a beta of 0.60.

Loews (NYSE:L - Get Free Report) last announced its quarterly 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. Investors of record on Wednesday, February 26th were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Wednesday, February 26th. Loews's payout ratio is currently 3.91%.

Insider Buying and Selling

In related news, Director Jonathan M. Tisch sold 50,000 shares of the firm's stock in a transaction that occurred on 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 sale, the director now directly owns 7,105,529 shares of the company's stock, valued at approximately $604,538,407.32. This trade represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan M. Tisch sold 3,691 shares of the stock in a transaction that occurred 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 sold 151,327 shares of company stock worth $12,851,055. 18.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Loews from a "buy" rating to a "hold" rating in a research 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.