Cibc World Markets Corp Decreases Holdings in Loews Co. (NYSE:L)

Cibc World Markets Corp lessened its stake in Loews Co. (NYSE:L - Free Report) by 19.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,767 shares of the insurance provider's stock after selling 6,847 shares during the period. Cibc World Markets Corp's holdings in Loews were worth $2,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Loews by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider's stock valued at $127,409,000 after purchasing an additional 8,615 shares during the last quarter. Miracle Mile Advisors LLC purchased a new stake in Loews in the fourth quarter valued at about $315,000. Intech Investment Management LLC boosted its holdings in Loews by 8.0% in the third quarter. Intech Investment Management LLC now owns 137,566 shares of the insurance provider's stock worth $10,875,000 after acquiring an additional 10,213 shares in the last quarter. Swedbank AB grew its stake in shares of Loews by 8.8% during the third quarter. Swedbank AB now owns 379,647 shares of the insurance provider's stock worth $30,011,000 after acquiring an additional 30,600 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Loews by 47.8% during the third quarter. PNC Financial Services Group Inc. now owns 37,319 shares of the insurance provider's stock valued at $2,950,000 after acquiring an additional 12,070 shares in the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

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

Insider Activity

In other 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 transaction of $4,254,000.00. Following the sale, the director now owns 7,105,529 shares of the company's stock, valued at $604,538,407.32. This trade represents a 0.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew H. Tisch sold 7,533 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $84.35, for a total transaction of $635,408.55. Following the sale, the director now directly owns 1,568,191 shares in the company, valued at approximately $132,276,910.85. The trade was a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 158,860 shares of company stock valued at $13,486,463 in the last ninety days. Insiders own 18.70% of the company's stock.

Loews Stock Performance

L stock traded up $0.66 during midday trading on Tuesday, reaching $89.17. The stock had a trading volume of 832,555 shares, compared to its average volume of 662,541. The firm has a fifty day simple moving average of $85.35 and a two-hundred day simple moving average of $83.12. Loews Co. has a 52-week low of $72.91 and a 52-week high of $88.66. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a market cap of $18.98 billion, a PE ratio of 13.93 and a beta of 0.80.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews's payout ratio is 3.91%.

Loews Company 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.