Canada Pension Plan Investment Board Buys 49,000 Shares of Loews Co. (NYSE:L)

Canada Pension Plan Investment Board lifted its position in shares of Loews Co. (NYSE:L - Free Report) by 25.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 243,677 shares of the insurance provider's stock after buying an additional 49,000 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.11% of Loews worth $20,637,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in L. Norges Bank purchased a new stake in shares of Loews in the 4th quarter worth $623,493,000. Geode Capital Management LLC lifted its holdings in Loews by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider's stock valued at $378,087,000 after acquiring an additional 210,594 shares during the period. Invesco Ltd. grew its position in shares of Loews by 0.8% during the 4th quarter. Invesco Ltd. now owns 4,462,387 shares of the insurance provider's stock valued at $377,920,000 after acquiring an additional 33,428 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. lifted its position in shares of Loews by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,623,291 shares of the insurance provider's stock valued at $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

Shares of NYSE:L traded up $0.48 during trading on Wednesday, hitting $86.19. 472,566 shares of the stock were exchanged, compared to its average volume of 732,668. Loews Co. has a 12-month low of $73.15 and a 12-month high of $92.42. The company has a market cap of $18.13 billion, a PE ratio of 13.47 and a beta of 0.60. The company has a fifty day moving average price of $85.95 and a two-hundred day moving average price of $84.32. 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 data on Monday, February 10th. The insurance provider reported $0.86 EPS for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued 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 0.29%. Loews's dividend payout ratio (DPR) is 3.91%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Loews news, Director Jonathan M. Tisch sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $84.66, for a total value of $4,233,000.00. Following the transaction, the director now owns 6,755,529 shares in the company, valued at approximately $571,923,085.14. This represents a 0.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders have sold 151,327 shares of company stock valued at $12,851,055 over the last quarter. Insiders own 18.70% of the company's stock.

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.