Mariner LLC Decreases Holdings in Loews Co. (NYSE:L)

Mariner LLC lowered its stake in shares of Loews Co. (NYSE:L - Free Report) by 22.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,106 shares of the insurance provider's stock after selling 9,413 shares during the period. Mariner LLC's holdings in Loews were worth $2,719,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in L. Norges Bank acquired a new stake in Loews in the 4th quarter valued at about $623,493,000. Geode Capital Management LLC lifted its stake 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 valued at $378,087,000 after buying an additional 210,594 shares in the last quarter. Invesco Ltd. grew its holdings in Loews by 0.8% during the 4th quarter. Invesco Ltd. now owns 4,462,387 shares of the insurance provider's stock valued at $377,920,000 after buying an additional 33,428 shares during the last quarter. Allspring Global Investments Holdings LLC increased 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 worth $268,640,000 after buying an additional 8,750 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in 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 worth $137,477,000 after buying an additional 11,540 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Loews Trading Down 1.1 %

Shares of NYSE:L traded down $0.94 during trading on Friday, reaching $85.30. The stock had a trading volume of 447,499 shares, compared to its average volume of 732,909. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. The stock has a market cap of $17.94 billion, a P/E ratio of 13.33 and a beta of 0.60. The business has a fifty day moving average price of $86.11 and a 200-day moving average price of $84.46. Loews Co. has a fifty-two week low of $73.15 and a fifty-two week high of $92.42.

Loews (NYSE:L - Get Free Report) last issued its quarterly earnings results 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews's payout ratio is 3.91%.

Insider Buying and Selling at Loews

In related news, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jonathan M. Tisch sold 50,000 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $84.66, for a total value of $4,233,000.00. Following the sale, the director now owns 6,755,529 shares of the company's stock, valued at $571,923,085.14. This represents a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 151,327 shares of company stock worth $12,851,055 in the last 90 days. 18.70% of the stock is owned by company insiders.

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.