Geode Capital Management LLC Buys 53,428 Shares of Loews Co. (NYSE:L)

Geode Capital Management LLC raised its position in Loews Co. (NYSE:L - Free Report) by 1.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 4,265,493 shares of the insurance provider's stock after purchasing an additional 53,428 shares during the period. Geode Capital Management LLC owned 1.96% of Loews worth $336,005,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. M&T Bank Corp lifted its stake in shares of Loews by 0.8% in the 3rd quarter. M&T Bank Corp now owns 46,677 shares of the insurance provider's stock valued at $3,690,000 after purchasing an additional 377 shares during the period. Barclays PLC increased its holdings in Loews by 13.1% in the third quarter. Barclays PLC now owns 752,380 shares of the insurance provider's stock worth $59,473,000 after purchasing an additional 87,259 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Loews by 1.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 55,785 shares of the insurance provider's stock valued at $4,410,000 after buying an additional 556 shares during the period. MML Investors Services LLC boosted its holdings in shares of Loews by 7.0% during the 3rd quarter. MML Investors Services LLC now owns 10,717 shares of the insurance provider's stock worth $847,000 after buying an additional 701 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its position in shares of Loews by 5.1% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 18,617 shares of the insurance provider's stock worth $1,472,000 after buying an additional 901 shares during the period. 58.33% of the stock is owned by institutional investors.

Loews Stock Up 0.3 %

Shares of L stock traded up $0.23 on Friday, hitting $84.18. The stock had a trading volume of 782,686 shares, compared to its average volume of 714,051. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. The business has a 50 day moving average of $82.50 and a 200 day moving average of $79.38. Loews Co. has a 12-month low of $67.20 and a 12-month high of $87.45. The stock has a market cap of $18.33 billion, a price-to-earnings ratio of 11.18 and a beta of 0.83.

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th were given a $0.0625 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $0.25 annualized dividend and a yield of 0.30%. Loews's dividend payout ratio is currently 3.32%.

Insiders Place Their Bets

In other news, Director Andrew H. Tisch sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $83.26, for a total transaction of $4,163,000.00. Following the completion of the sale, the director now owns 11,939,677 shares in the company, valued at $994,097,507.02. This trade represents a 0.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles M. Diker sold 1,146 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total value of $99,507.18. Following the transaction, the director now directly owns 19,906 shares of the company's stock, valued at approximately $1,728,437.98. This trade represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 126,146 shares of company stock valued at $10,499,507. Insiders own 18.70% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Loews from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, November 20th.

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.