Loews Co. (NYSE:L) Shares Bought by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lifted its position in shares of Loews Co. (NYSE:L - Free Report) by 183.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,460 shares of the insurance provider's stock after acquiring an additional 10,000 shares during the quarter. Brown Brothers Harriman & Co.'s holdings in Loews were worth $1,309,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Miracle Mile Advisors LLC purchased a new stake in Loews in the 4th quarter worth $315,000. Nordea Investment Management AB increased its stake in shares of Loews by 7.5% during the fourth quarter. Nordea Investment Management AB now owns 15,619 shares of the insurance provider's stock worth $1,323,000 after purchasing an additional 1,085 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of 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 worth $109,067,000 after purchasing an additional 77,386 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Loews during the 4th quarter worth about $440,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Loews in the 4th quarter valued at about $425,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Price Performance

L traded down $7.95 on Friday, hitting $83.16. 1,259,253 shares of the company's stock were exchanged, compared to its average volume of 722,268. Loews Co. has a fifty-two week low of $72.91 and a fifty-two week high of $92.42. The stock has a market cap of $17.70 billion, a price-to-earnings ratio of 12.99 and a beta of 0.80. The firm has a 50-day moving average price of $86.27 and a 200-day moving average price of $83.77. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50.

Loews (NYSE:L - Get Free Report) last posted its quarterly 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 business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given a $0.0625 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.30%. Loews's dividend payout ratio (DPR) is presently 3.91%.

Analyst Ratings Changes

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

Insider Activity at Loews

In other Loews news, Director Jonathan M. Tisch sold 3,691 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan M. Tisch sold 50,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total transaction 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 approximately $604,538,407.32. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 151,327 shares of company stock valued at $12,851,055. 18.70% of the stock is currently owned by insiders.

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.