National Bank of Canada FI Increases Stock Position in Loews Co. (NYSE:L)

National Bank of Canada FI lifted its position in Loews Co. (NYSE:L - Free Report) by 71.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 104,949 shares of the insurance provider's stock after purchasing an additional 43,906 shares during the period. National Bank of Canada FI's holdings in Loews were worth $8,296,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in Loews in the 3rd quarter worth approximately $40,000. Eastern Bank purchased a new stake in Loews in the third quarter worth $47,000. Kimelman & Baird LLC bought a new stake in Loews in the second quarter valued at $45,000. Family Firm Inc. bought a new stake in Loews in the second quarter valued at $46,000. Finally, Innealta Capital LLC purchased a new position in Loews during the 2nd quarter valued at $51,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com downgraded Loews from a "strong-buy" rating to a "buy" rating in a report on Wednesday, November 20th.

Insider Activity

In other Loews news, Director Charles M. Diker sold 1,146 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total transaction of $99,507.18. Following the completion of the sale, the director now directly owns 19,906 shares of the company's stock, valued at approximately $1,728,437.98. This represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew H. Tisch sold 50,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $83.26, for a total transaction of $4,163,000.00. Following the completion of the transaction, the director now owns 11,939,677 shares in the company, valued at $994,097,507.02. The trade was a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 126,146 shares of company stock valued at $10,499,507 over the last three months. Insiders own 18.70% of the company's stock.

Loews Stock Down 0.9 %

NYSE L traded down $0.80 during mid-day trading on Thursday, reaching $83.95. The stock had a trading volume of 730,277 shares, compared to its average volume of 713,764. The stock has a market cap of $18.28 billion, a PE ratio of 11.25 and a beta of 0.83. Loews Co. has a 1 year low of $67.20 and a 1 year high of $87.45. 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 company has a fifty day moving average price of $82.29 and a 200 day moving average price of $79.24.

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th were paid a $0.0625 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.30%. Loews's dividend payout ratio is presently 3.32%.

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.