ING Groep NV Trims Stake in Loews Co. (NYSE:L)

ING Groep NV lessened its position in Loews Co. (NYSE:L - Free Report) by 59.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 9,183 shares of the insurance provider's stock after selling 13,272 shares during the period. ING Groep NV's holdings in Loews were worth $726,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in L. Vanguard Group Inc. lifted its holdings in shares of Loews by 2.5% in the first quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider's stock valued at $1,656,376,000 after purchasing an additional 507,513 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Loews by 2.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,183,138 shares of the insurance provider's stock valued at $251,627,000 after purchasing an additional 69,459 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Loews by 6.4% in 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 purchasing an additional 161,810 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Loews by 5.8% in the second quarter. AQR Capital Management LLC now owns 820,800 shares of the insurance provider's stock valued at $61,347,000 after purchasing an additional 45,237 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Loews by 5.0% in the second quarter. Hsbc Holdings PLC now owns 692,116 shares of the insurance provider's stock valued at $51,750,000 after purchasing an additional 33,125 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company's stock.

Loews Price Performance

L stock traded up $0.74 during mid-day trading on Monday, hitting $84.41. 489,152 shares of the stock were exchanged, compared to its average volume of 713,874. 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 stock has a market capitalization of $18.38 billion, a price-to-earnings ratio of 11.11 and a beta of 0.82. The business has a fifty day moving average price of $79.83 and a 200 day moving average price of $78.13. Loews Co. has a 12 month low of $66.60 and a 12 month high of $84.59.

Loews Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.25 annualized dividend and a yield of 0.30%. Loews's payout ratio is currently 3.32%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. StockNews.com upgraded Loews from a "buy" rating to a "strong-buy" rating in a report on Tuesday, November 12th. Royal Bank of Canada upgraded Loews to a "moderate buy" rating in a research report on Friday, July 26th. Finally, Jefferies Financial Group reduced their target price on Loews from $115.00 to $112.00 and set a "buy" rating for the company in a research report on Wednesday, July 31st.

Insider Transactions at Loews

In other news, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction dated 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 sale, the director now owns 11,939,677 shares of the company's stock, valued at approximately $994,097,507.02. The trade was a 0.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jonathan M. Tisch sold 62,500 shares of the business's stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $80.84, for a total transaction of $5,052,500.00. Following the sale, the insider now directly owns 6,781,634 shares in the company, valued at $548,227,292.56. The trade was a 0.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 213,587 shares of company stock worth $17,586,460. Company insiders own 18.70% of the company's stock.

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.