Janus Henderson Group PLC lifted its holdings in Loews Co. (NYSE:L - Free Report) by 33.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,249 shares of the insurance provider's stock after purchasing an additional 6,300 shares during the quarter. Janus Henderson Group PLC's holdings in Loews were worth $1,996,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Cetera Advisors LLC bought a new stake in shares of Loews in the 1st quarter valued at approximately $339,000. CWM LLC lifted its position in Loews by 10.2% in the second quarter. CWM LLC now owns 3,659 shares of the insurance provider's stock worth $273,000 after buying an additional 338 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Loews by 6.2% during the second quarter. Sequoia Financial Advisors LLC now owns 3,195 shares of the insurance provider's stock worth $239,000 after buying an additional 186 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Loews by 7.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,652 shares of the insurance provider's stock valued at $871,000 after acquiring an additional 851 shares during the last quarter. Finally, Swedbank AB raised its stake in shares of Loews by 15.6% in the second quarter. Swedbank AB now owns 349,047 shares of the insurance provider's stock valued at $26,088,000 after acquiring an additional 47,013 shares during the period. Institutional investors own 58.33% of the company's stock.
Analysts Set New Price Targets
Separately, StockNews.com downgraded Loews from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, November 20th.
Read Our Latest Analysis on Loews
Loews Stock Performance
NYSE:L traded up $0.23 during trading hours on Friday, hitting $84.19. 782,686 shares of the company were exchanged, compared to its average volume of 714,051. The company's 50 day moving average price is $82.41 and its 200-day moving average price is $79.28. The stock has a market capitalization of $18.33 billion, a price-to-earnings ratio of 11.15 and a beta of 0.83. Loews Co. has a 52-week low of $67.20 and a 52-week high of $87.45. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34.
Loews Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.30%. Loews's payout ratio is currently 3.32%.
Insider Buying and Selling
In other news, Director Charles M. Diker sold 1,146 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $86.83, for a total transaction of $99,507.18. Following the sale, the director now directly owns 19,906 shares of the company's stock, valued at $1,728,437.98. This represents a 5.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Andrew H. Tisch sold 75,000 shares of Loews stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $83.16, for a total value of $6,237,000.00. Following the completion of the transaction, the director now owns 12,089,677 shares of the company's stock, valued at approximately $1,005,377,539.32. This represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 126,146 shares of company stock valued at $10,499,507 over the last 90 days. Insiders own 18.70% of the company's stock.
Loews Profile
(
Free Report)
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.
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