LSV Asset Management Cuts Stake in Loews Co. (NYSE:L)

LSV Asset Management lowered its holdings in Loews Co. (NYSE:L - Free Report) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,100 shares of the insurance provider's stock after selling 9,800 shares during the period. LSV Asset Management owned approximately 0.07% of Loews worth $12,119,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in Loews during the fourth quarter worth about $623,493,000. Geode Capital Management LLC raised its position in Loews by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider's stock worth $378,087,000 after purchasing an additional 210,594 shares during the period. Invesco Ltd. lifted its stake in Loews by 0.8% in the fourth quarter. Invesco Ltd. now owns 4,462,387 shares of the insurance provider's stock worth $377,920,000 after purchasing an additional 33,428 shares during the last quarter. Allspring Global Investments Holdings LLC boosted 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 buying an additional 8,750 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Loews by 0.7% during the fourth 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 last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Jonathan M. Tisch sold 50,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $84.66, for a total value of $4,233,000.00. Following the completion of the transaction, the director now directly owns 6,755,529 shares in the company, valued at $571,923,085.14. This trade represents a 0.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan M. Tisch sold 3,691 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $86.89, for a total transaction of $320,710.99. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 151,327 shares of company stock valued at $12,851,055. Corporate insiders own 18.70% of the company's stock.

Loews Trading Up 0.1 %

Loews stock traded up $0.07 during trading hours on Thursday, reaching $85.27. The stock had a trading volume of 512,744 shares, compared to its average volume of 734,646. The stock has a market cap of $17.94 billion, a PE ratio of 13.32 and a beta of 0.60. The company has a fifty day simple moving average of $85.91 and a 200-day simple moving average of $84.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. Loews Co. has a 52 week low of $72.91 and a 52 week high of $92.42.

Loews (NYSE:L - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 EPS 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 announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. Loews's dividend payout ratio is 3.91%.

Analysts Set New Price Targets

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

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.