Raymond James Financial Inc. Takes $4.88 Million Position in Loews Co. (NYSE:L)

Raymond James Financial Inc. purchased a new position in Loews Co. (NYSE:L - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 57,576 shares of the insurance provider's stock, valued at approximately $4,876,000.

Several other institutional investors have also made changes to their positions in the stock. State Street Corp grew its stake in Loews by 1.0% in the third quarter. State Street Corp now owns 8,077,241 shares of the insurance provider's stock valued at $638,506,000 after purchasing an additional 82,581 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Loews by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider's stock valued at $336,005,000 after buying an additional 53,428 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Loews by 0.3% in the 4th 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 in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Loews by 0.7% in the 4th 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 in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Loews by 6.4% in the fourth 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 last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, Director Andrew H. Tisch sold 7,533 shares of the business'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 transaction, the director now directly owns 1,568,191 shares in the company, valued at $132,276,910.85. The trade was a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jonathan M. Tisch sold 47,636 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $84.88, for a total value of $4,043,343.68. Following the completion of the sale, the director now owns 6,705,529 shares of the company's stock, valued at $569,165,301.52. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 158,860 shares of company stock valued at $13,486,463. 18.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Loews Stock Performance

L stock traded down $0.59 during midday trading on Friday, hitting $90.82. 79,209 shares of the company traded hands, compared to its average volume of 716,359. 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 business has a 50 day simple moving average of $85.69 and a 200-day simple moving average of $83.30. The stock has a market capitalization of $19.33 billion, a price-to-earnings ratio of 14.19 and a beta of 0.80. Loews Co. has a twelve month low of $72.91 and a twelve month high of $92.07.

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 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 disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a $0.0625 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 annualized dividend and a dividend yield of 0.28%. Loews's payout ratio is 3.91%.

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.