State of New Jersey Common Pension Fund D lessened its holdings in Loews Co. (NYSE:L - Free Report) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,350 shares of the insurance provider's stock after selling 3,407 shares during the period. State of New Jersey Common Pension Fund D's holdings in Loews were worth $4,603,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Brooklyn Investment Group acquired a new position in shares of Loews in the 3rd quarter valued at $40,000. Eastern Bank acquired a new position in shares of Loews in the 3rd quarter valued at $47,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Loews in the 3rd quarter valued at $49,000. Principal Securities Inc. lifted its stake in shares of Loews by 24.4% in the 4th quarter. Principal Securities Inc. now owns 1,440 shares of the insurance provider's stock valued at $122,000 after purchasing an additional 282 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Loews in the 3rd quarter valued at $129,000. Institutional investors and hedge funds own 58.33% of the company's stock.
Insiders Place Their Bets
In other Loews news, Director Andrew H. Tisch sold 7,533 shares of the company's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $84.35, for a total transaction of $635,408.55. Following the sale, the director now owns 1,568,191 shares in the company, valued at $132,276,910.85. This represents a 0.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan M. Tisch sold 3,691 shares of the company's stock in a transaction dated 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 a total of 12,370 shares of company stock worth $1,055,627 in the last quarter. 18.70% of the stock is owned by company insiders.
Analyst Ratings Changes
Separately, StockNews.com lowered Loews from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th.
Check Out Our Latest Stock Analysis on Loews
Loews Trading Down 0.3 %
L traded down $0.26 during mid-day trading on Friday, hitting $82.72. 916,724 shares of the stock were exchanged, compared to its average volume of 698,688. The firm's fifty day moving average is $84.37 and its two-hundred day moving average is $82.16. Loews Co. has a 1-year low of $72.91 and a 1-year high of $88.29. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The company has a market cap of $17.61 billion, a PE ratio of 12.93 and a beta of 0.83.
Loews (NYSE:L - Get Free Report) last posted its 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.25 annualized dividend and a yield of 0.30%. Loews's dividend payout ratio (DPR) 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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