Raymond James Financial Inc. Makes New $4.88 Million Investment in Loews Co. (NYSE:L)

Raymond James Financial Inc. bought a new position in shares of Loews Co. (NYSE:L - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 57,576 shares of the insurance provider's stock, valued at approximately $4,876,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC bought a new position in Loews during the 4th quarter worth approximately $26,000. Brooklyn Investment Group acquired a new stake in Loews in the third quarter worth $40,000. Wilmington Savings Fund Society FSB bought a new position in shares of Loews during the third quarter worth $49,000. Human Investing LLC acquired a new position in shares of Loews in the 4th quarter valued at $51,000. Finally, Assetmark Inc. increased its position in shares of Loews by 117.2% in the 4th quarter. Assetmark Inc. now owns 832 shares of the insurance provider's stock valued at $70,000 after buying an additional 449 shares in the last quarter. Institutional investors own 58.33% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Loews

In other news, Director Jonathan M. Tisch sold 47,636 shares of the firm's stock in a transaction dated 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 transaction, the director now owns 6,705,529 shares in the company, valued at $569,165,301.52. This trade represents a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew H. Tisch sold 7,533 shares of the company's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $84.35, for a total value of $635,408.55. Following the sale, the director now owns 1,568,191 shares in the company, valued at $132,276,910.85. The trade was a 0.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,860 shares of company stock worth $13,486,463. Corporate insiders own 18.70% of the company's stock.

Loews Stock Down 0.8 %

L stock traded down $0.74 during mid-day trading on Friday, hitting $90.66. 567,650 shares of the company were exchanged, compared to its average volume of 718,156. The firm has a market cap of $19.30 billion, a P/E ratio of 14.17 and a beta of 0.80. Loews Co. has a 1-year low of $72.91 and a 1-year high of $92.13. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The firm's 50 day simple moving average is $85.78 and its 200 day simple moving average is $83.40.

Loews (NYSE:L - Get Free Report) last announced its earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share 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 announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Wednesday, February 26th. Loews's dividend payout ratio is presently 3.91%.

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.