Sterling Capital Management LLC Purchases 3,708 Shares of Loews Co. (NYSE:L)

Sterling Capital Management LLC boosted its stake in Loews Co. (NYSE:L - Free Report) by 53.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,614 shares of the insurance provider's stock after purchasing an additional 3,708 shares during the period. Sterling Capital Management LLC's holdings in Loews were worth $899,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Loews during the fourth quarter worth about $26,000. Human Investing LLC purchased a new position in Loews in the fourth quarter valued at about $51,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Loews during the 3rd quarter worth approximately $49,000. Graney & King LLC purchased a new position in shares of Loews during the 4th quarter valued at $56,000. Finally, Intact Investment Management Inc. bought a new position in Loews during the fourth quarter worth about $68,000. Institutional investors own 58.33% of the company's stock.

Insiders Place Their Bets

In related news, Director Jonathan M. Tisch sold 3,691 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total transaction of $320,710.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan M. Tisch sold 50,000 shares of Loews stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the completion of the transaction, the director now directly owns 7,105,529 shares of the company's stock, valued at $604,538,407.32. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 151,327 shares of company stock valued at $12,851,055 in the last quarter. Insiders own 18.70% of the company's stock.

Analyst Ratings Changes

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

Loews Trading Up 0.1 %

NYSE L traded up $0.07 during trading on Friday, hitting $85.27. 536,344 shares of the company's stock traded hands, compared to its average volume of 734,715. The firm has a market cap of $17.94 billion, a P/E ratio of 13.32 and a beta of 0.60. The stock has a fifty day moving average of $85.91 and a two-hundred day moving average of $84.20. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. Loews Co. has a 12-month low of $73.15 and a 12-month high of $92.42.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.0625 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 annualized dividend and a yield of 0.29%. Loews's payout ratio is currently 3.91%.

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.