Loews Co. (NYSE:L) Shares Purchased by State Street Corp

State Street Corp boosted its stake in shares of Loews Co. (NYSE:L - Free Report) by 1.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,077,241 shares of the insurance provider's stock after buying an additional 82,581 shares during the period. State Street Corp owned 3.71% of Loews worth $638,506,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Optas LLC raised its position in Loews by 1.9% in the second quarter. Optas LLC now owns 8,086 shares of the insurance provider's stock valued at $604,000 after purchasing an additional 151 shares during the period. Summit Trail Advisors LLC raised its holdings in shares of Loews by 2.6% in the 3rd quarter. Summit Trail Advisors LLC now owns 6,038 shares of the insurance provider's stock valued at $477,000 after buying an additional 153 shares during the period. Atomi Financial Group Inc. raised its holdings in shares of Loews by 4.3% in the 3rd quarter. Atomi Financial Group Inc. now owns 4,111 shares of the insurance provider's stock valued at $325,000 after buying an additional 169 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of Loews by 6.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,195 shares of the insurance provider's stock valued at $239,000 after buying an additional 186 shares during the period. Finally, Ballentine Partners LLC raised its holdings in shares of Loews by 5.2% in the 3rd quarter. Ballentine Partners LLC now owns 3,772 shares of the insurance provider's stock valued at $298,000 after buying an additional 187 shares during the period. Institutional investors and hedge funds own 58.33% of the company's stock.

Wall Street Analyst Weigh In

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

Loews Stock Down 1.3 %

NYSE L traded down $1.08 during trading hours on Monday, hitting $85.00. 598,690 shares of the company were exchanged, compared to its average volume of 713,828. The company has a 50 day moving average of $81.95 and a two-hundred day moving average of $79.06. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48. Loews Co. has a 52-week low of $67.20 and a 52-week high of $87.45. The firm has a market cap of $18.51 billion, a price-to-earnings ratio of 11.43 and a beta of 0.83.

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.0625 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.25 annualized dividend and a yield of 0.29%. Loews's dividend payout ratio (DPR) is 3.32%.

Insiders Place Their Bets

In related news, Director Charles M. Diker sold 1,146 shares of the company's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $86.83, for a total value 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 $1,728,437.98. This represents a 5.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew H. Tisch sold 50,000 shares of the company's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $83.26, for a total value of $4,163,000.00. Following the completion of the sale, the director now directly owns 11,939,677 shares of the company's stock, valued at approximately $994,097,507.02. This trade represents a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 126,146 shares of company stock worth $10,499,507 in the last quarter. 18.70% of the stock is owned by company insiders.

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.