Diamond Hill Capital Management Inc. lessened its holdings in Loews Co. (NYSE:L - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 277,228 shares of the insurance provider's stock after selling 20,193 shares during the period. Diamond Hill Capital Management Inc. owned approximately 0.13% of Loews worth $23,478,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. State Street Corp increased its holdings 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 purchasing an additional 82,581 shares during the period. Geode Capital Management LLC grew its stake in Loews by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider's stock worth $336,005,000 after buying an additional 53,428 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Loews by 0.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider's stock worth $268,640,000 after acquiring an additional 8,750 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Loews by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,623,291 shares of the insurance provider's stock worth $137,477,000 after acquiring an additional 11,540 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Loews by 6.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider's stock worth $109,067,000 after acquiring an additional 77,386 shares during the period. Institutional investors and hedge funds own 58.33% of the company's stock.
Analyst Ratings Changes
Separately, StockNews.com cut Loews from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th.
Check Out Our Latest Stock Analysis on Loews
Insiders Place Their Bets
In other Loews news, Director Jonathan M. Tisch sold 47,636 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the completion of the transaction, the director now owns 6,705,529 shares of the company's stock, valued at approximately $569,165,301.52. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jonathan M. Tisch sold 3,691 shares of the firm's stock in a transaction on Thursday, February 6th. The stock was 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. Over the last 90 days, insiders sold 158,860 shares of company stock valued at $13,486,463. Corporate insiders own 18.70% of the company's stock.
Loews Price Performance
NYSE L traded down $0.59 during mid-day trading on Tuesday, hitting $86.83. The stock had a trading volume of 643,564 shares, compared to its average volume of 653,315. Loews Co. has a 52-week low of $72.91 and a 52-week high of $88.29. The company has a market cap of $18.48 billion, a price-to-earnings ratio of 13.57 and a beta of 0.80. The company has a 50 day simple moving average of $84.85 and a 200 day simple moving average of $82.91. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50.
Loews (NYSE:L - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.
Loews Dividend Announcement
The business 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. This represents a $0.25 annualized dividend and a yield of 0.29%. The ex-dividend date was Wednesday, February 26th. Loews's payout ratio is 3.91%.
About Loews
(
Free Report)
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.
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