National Pension Service Sells 336,386 Shares of Loews Co. (NYSE:L)

National Pension Service decreased its position in shares of Loews Co. (NYSE:L - Free Report) by 91.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,296 shares of the insurance provider's stock after selling 336,386 shares during the quarter. National Pension Service's holdings in Loews were worth $2,820,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Horizon Advisory Services Inc. bought a new stake in Loews in the fourth quarter worth approximately $325,000. Bank of New York Mellon Corp grew its position in shares of Loews by 6.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider's stock worth $109,067,000 after buying an additional 77,386 shares during the period. Hi Line Capital Management LLC bought a new stake in shares of Loews in the 4th quarter valued at $2,446,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Loews during the 4th quarter valued at $425,000. Finally, Colonial River Investments LLC boosted its position in shares of Loews by 23.6% during the 4th quarter. Colonial River Investments LLC now owns 3,195 shares of the insurance provider's stock worth $271,000 after purchasing an additional 610 shares in the last quarter. 58.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com cut Loews from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th.

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Loews Stock Performance

Shares of Loews stock traded up $0.33 during trading hours on Wednesday, hitting $85.40. 663,923 shares of the company's stock traded hands, compared to its average volume of 717,389. The stock has a market capitalization of $18.18 billion, a price-to-earnings ratio of 13.34 and a beta of 0.83. Loews Co. has a 12-month low of $72.91 and a 12-month high of $88.29. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The company has a fifty day simple moving average of $84.69 and a 200-day simple moving average of $82.60.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) 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 declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be paid 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 dividend yield of 0.29%. Loews's payout ratio is 3.91%.

Insider Activity at Loews

In other news, Director Jonathan M. Tisch sold 50,000 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the completion of the transaction, the director now directly owns 7,105,529 shares in the company, valued at $604,538,407.32. The trade was a 0.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan M. Tisch sold 3,691 shares of the company's stock in a transaction on 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 three months, insiders have sold 61,224 shares of company stock worth $5,210,120. Company insiders own 18.70% of the company's stock.

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.