Alliancebernstein L.P. Has $18.97 Million Position in Loews Co. (NYSE:L)

Alliancebernstein L.P. trimmed its position in Loews Co. (NYSE:L - Free Report) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 223,944 shares of the insurance provider's stock after selling 8,741 shares during the quarter. Alliancebernstein L.P. owned approximately 0.10% of Loews worth $18,966,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in L. State Street Corp boosted its position in Loews by 1.0% during the 3rd quarter. State Street Corp now owns 8,077,241 shares of the insurance provider's stock worth $638,506,000 after acquiring an additional 82,581 shares during the period. Norges Bank acquired a new stake in shares of Loews during the fourth quarter worth approximately $623,493,000. Geode Capital Management LLC grew its position in Loews by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider's stock valued at $336,005,000 after purchasing an additional 53,428 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Loews by 0.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider's stock valued at $268,640,000 after purchasing an additional 8,750 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Loews by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,623,291 shares of the insurance provider's stock valued at $137,477,000 after buying an additional 11,540 shares during the period. 58.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Loews

In other Loews news, Director Jonathan M. Tisch sold 50,000 shares of Loews stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $84.66, for a total value of $4,233,000.00. Following the transaction, the director now directly owns 6,755,529 shares of the company's stock, valued at $571,923,085.14. The trade was a 0.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jonathan M. Tisch sold 3,691 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. Insiders have sold a total of 151,327 shares of company stock worth $12,851,055 over the last three months. Corporate insiders own 18.70% of the company's stock.

Loews Stock Up 0.3 %

Shares of Loews stock traded up $0.24 during trading on Friday, hitting $84.61. 1,386,381 shares of the stock traded hands, compared to its average volume of 737,046. The company has a fifty day moving average price of $85.95 and a two-hundred day moving average price of $84.01. Loews Co. has a twelve month low of $72.91 and a twelve month high of $92.42. The stock has a market cap of $17.80 billion, a P/E ratio of 13.22 and a beta of 0.60. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34.

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

Loews Dividend Announcement

The firm also recently announced 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. This represents a $0.25 annualized dividend and a yield of 0.30%. The ex-dividend date was Wednesday, February 26th. Loews's payout ratio is 3.91%.

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.