Loews Co. (NYSE:L) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in shares of Loews Co. (NYSE:L - Free Report) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 248,665 shares of the insurance provider's stock after purchasing an additional 7,149 shares during the period. Principal Financial Group Inc. owned 0.11% of Loews worth $19,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Loews by 5.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 174,867 shares of the insurance provider's stock worth $13,690,000 after purchasing an additional 8,527 shares during the period. Bessemer Group Inc. lifted its stake in Loews by 453.9% in the first quarter. Bessemer Group Inc. now owns 18,429 shares of the insurance provider's stock worth $1,443,000 after acquiring an additional 15,102 shares during the period. Swedbank AB grew its holdings in Loews by 15.6% during the 2nd quarter. Swedbank AB now owns 349,047 shares of the insurance provider's stock worth $26,088,000 after acquiring an additional 47,013 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Loews by 25.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 218,841 shares of the insurance provider's stock worth $17,133,000 after acquiring an additional 44,426 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Loews by 8.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 122,208 shares of the insurance provider's stock valued at $9,134,000 after purchasing an additional 9,296 shares during the period. 58.33% of the stock is owned by institutional investors.

Loews Stock Performance

Shares of L stock traded up $0.87 during trading hours on Friday, hitting $83.67. The company's stock had a trading volume of 936,552 shares, compared to its average volume of 714,887. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average of $79.75 and a 200 day moving average of $78.05. Loews Co. has a 12-month low of $66.60 and a 12-month high of $84.56. The stock has a market cap of $18.22 billion, a PE ratio of 11.07 and a beta of 0.82.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a yield of 0.30%. Loews's payout ratio is 3.32%.

Insiders Place Their Bets

In other Loews news, Director Ann E. Berman sold 1,087 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the transaction, the director now directly owns 4,998 shares of the company's stock, valued at $406,737.24. This trade represents a 17.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew H. Tisch sold 75,000 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $83.16, for a total value of $6,237,000.00. Following the sale, the director now owns 12,089,677 shares of the company's stock, valued at approximately $1,005,377,539.32. This trade represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 213,587 shares of company stock worth $17,586,460. Company insiders own 18.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on L. StockNews.com raised Loews from a "buy" rating to a "strong-buy" rating in a research report on Tuesday. Royal Bank of Canada raised shares of Loews to a "moderate buy" rating in a research report on Friday, July 26th. Finally, Jefferies Financial Group cut their price objective on shares of Loews from $115.00 to $112.00 and set a "buy" rating on the stock in a research report on Wednesday, July 31st.

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.