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

Bank of Montreal Can lessened its stake in Loews Co. (NYSE:L - Free Report) by 5.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 332,209 shares of the insurance provider's stock after selling 20,951 shares during the quarter. Bank of Montreal Can owned 0.15% of Loews worth $26,211,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in L. Versant Capital Management Inc raised its stake in Loews by 244.0% in the second quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider's stock valued at $28,000 after buying an additional 266 shares in the last quarter. Eastern Bank acquired a new stake in shares of Loews during the 3rd quarter worth about $47,000. Kimelman & Baird LLC purchased a new stake in Loews during the second quarter worth approximately $45,000. Family Firm Inc. acquired a new position in Loews in the second quarter valued at approximately $46,000. Finally, Innealta Capital LLC purchased a new position in Loews in the second quarter valued at approximately $51,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com cut Loews from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, November 20th.

Insider Activity

In related news, Director Ann E. Berman sold 1,087 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total value of $88,460.06. Following the sale, the director now directly owns 4,998 shares in the company, valued at $406,737.24. The trade was a 17.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan M. Tisch sold 25,000 shares of Loews stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the transaction, the insider now owns 461,395 shares of the company's stock, valued at approximately $37,751,338.90. The trade was a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 213,587 shares of company stock worth $17,586,460 in the last 90 days. 18.70% of the stock is currently owned by corporate insiders.

Loews Stock Performance

L traded down $0.32 during trading on Friday, reaching $86.73. The company's stock had a trading volume of 408,304 shares, compared to its average volume of 713,804. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. The company's fifty day moving average price is $81.20 and its 200-day moving average price is $78.72. Loews Co. has a 52-week low of $67.20 and a 52-week high of $87.45. The company has a market capitalization of $18.89 billion, a price-to-earnings ratio of 11.52 and a beta of 0.82.

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.0625 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. Loews's dividend payout ratio (DPR) is presently 3.32%.

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.