Legal & General Group Plc Reduces Stock Position in Loews Co. (NYSE:L)

Legal & General Group Plc trimmed its holdings in shares of Loews Co. (NYSE:L - Free Report) by 19.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,458,688 shares of the insurance provider's stock after selling 349,539 shares during the quarter. Legal & General Group Plc owned 0.67% of Loews worth $123,536,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Venturi Wealth Management LLC boosted its position in Loews by 10.6% during the fourth quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider's stock worth $105,000 after purchasing an additional 119 shares during the period. Wedmont Private Capital lifted its stake in Loews by 5.2% in the 4th quarter. Wedmont Private Capital now owns 3,065 shares of the insurance provider's stock worth $249,000 after purchasing an additional 151 shares in the last quarter. Mather Group LLC. grew its position in Loews by 7.7% during the fourth quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider's stock worth $190,000 after buying an additional 161 shares in the last quarter. Perigon Wealth Management LLC raised its stake in Loews by 5.9% in the fourth quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider's stock valued at $285,000 after purchasing an additional 183 shares in the last quarter. Finally, Aaron Wealth Advisors LLC lifted its holdings in shares of Loews by 5.8% during the 4th quarter. Aaron Wealth Advisors LLC now owns 3,568 shares of the insurance provider's stock worth $302,000 after acquiring an additional 196 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company's stock.

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Wall Street Analyst Weigh In

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

Insider Transactions at Loews

In related news, Director Jonathan M. Tisch sold 47,636 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the completion of the sale, the director now owns 6,705,529 shares of the company's stock, valued at $569,165,301.52. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan M. Tisch sold 3,691 shares of Loews 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. Insiders have sold 151,327 shares of company stock valued at $12,851,055 in the last three months. 18.70% of the stock is currently owned by company insiders.

Loews Trading Up 2.0 %

Shares of Loews stock traded up $1.67 during trading on Monday, reaching $86.35. 686,401 shares of the stock were exchanged, compared to its average volume of 736,585. The firm has a market cap of $18.16 billion, a price-to-earnings ratio of 13.49 and a beta of 0.60. Loews Co. has a 1 year low of $72.91 and a 1 year high of $92.42. The stock's fifty day moving average is $85.95 and its 200 day moving average is $84.04. 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 results on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews's payout ratio is presently 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.