PNC Financial Services Group Inc. Purchases 12,070 Shares of Loews Co. (NYSE:L)

PNC Financial Services Group Inc. lifted its position in Loews Co. (NYSE:L - Free Report) by 47.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,319 shares of the insurance provider's stock after acquiring an additional 12,070 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Loews were worth $2,950,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB purchased a new stake in shares of Loews in the 1st quarter valued at about $23,646,000. TD Asset Management Inc boosted its stake in shares of Loews by 77.9% in the 2nd quarter. TD Asset Management Inc now owns 525,920 shares of the insurance provider's stock valued at $39,307,000 after purchasing an additional 230,231 shares in the last quarter. Bank of Montreal Can raised its position in Loews by 106.3% in the 2nd quarter. Bank of Montreal Can now owns 353,160 shares of the insurance provider's stock worth $27,338,000 after purchasing an additional 182,009 shares during the period. Lee Danner & Bass Inc. purchased a new stake in Loews during the second quarter valued at about $13,379,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Loews by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider's stock valued at $199,858,000 after buying an additional 161,810 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company's stock.

Insider Buying and Selling

In other Loews news, insider Jonathan M. Tisch sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the completion of the transaction, the insider now owns 461,395 shares of the company's stock, valued at approximately $37,751,338.90. This trade represents a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew H. Tisch sold 75,000 shares of the company'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 completion of the sale, the director now owns 12,089,677 shares in the company, valued at $1,005,377,539.32. The trade was a 0.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 213,587 shares of company stock valued at $17,586,460 over the last quarter. 18.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

L has been the topic of several recent research reports. Jefferies Financial Group reduced their price target on Loews from $115.00 to $112.00 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. StockNews.com downgraded shares of Loews from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, November 20th.

Loews Trading Up 0.9 %

Shares of Loews stock traded up $0.78 during trading on Tuesday, reaching $86.61. 561,589 shares of the stock were exchanged, compared to its average volume of 716,279. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48. The firm has a market cap of $18.86 billion, a price-to-earnings ratio of 11.40 and a beta of 0.82. Loews Co. has a 1 year low of $67.20 and a 1 year high of $86.90. The stock's fifty day moving average is $80.58 and its 200 day moving average is $78.46.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. Loews's dividend payout ratio is presently 3.32%.

Loews 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.