Geode Capital Management LLC Increases Stock Holdings in Loews Co. (NYSE:L)

Geode Capital Management LLC boosted its stake in shares of Loews Co. (NYSE:L - Free Report) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,476,087 shares of the insurance provider's stock after buying an additional 210,594 shares during the quarter. Geode Capital Management LLC owned 2.06% of Loews worth $378,087,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in L. Miracle Mile Advisors LLC acquired a new stake in Loews in the 4th quarter valued at approximately $315,000. Nordea Investment Management AB boosted its holdings in Loews by 7.5% during the 4th quarter. Nordea Investment Management AB now owns 15,619 shares of the insurance provider's stock valued at $1,323,000 after acquiring an additional 1,085 shares during the period. Bank of New York Mellon Corp increased its stake in Loews by 6.4% during the fourth 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 period. Fidelis Capital Partners LLC acquired a new stake in shares of Loews during the fourth quarter worth about $440,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Loews in the fourth quarter valued at approximately $425,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Jonathan M. Tisch sold 50,000 shares of the stock in a transaction dated 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 owns 7,105,529 shares in the company, valued at approximately $604,538,407.32. This represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan M. Tisch sold 3,691 shares of the business's stock in a transaction that occurred on 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. In the last 90 days, insiders have sold 151,327 shares of company stock worth $12,851,055. 18.70% of the stock is currently owned by insiders.

Loews Stock Down 2.9 %

Shares of L traded down $2.54 during midday trading on Thursday, hitting $83.79. The company had a trading volume of 145,579 shares, compared to its average volume of 791,351. The company's 50-day simple moving average is $85.99 and its 200-day simple moving average is $83.92. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. Loews Co. has a 1 year low of $72.91 and a 1 year high of $92.42. The firm has a market capitalization of $17.62 billion, a P/E ratio of 13.11 and a beta of 0.60.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings results 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 Dividend Announcement

The firm also recently declared 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. This represents a $0.25 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews's dividend payout ratio (DPR) is 3.91%.

Analyst Ratings Changes

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

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.