Loews Co. (NYSE:L) Shares Purchased by Swedbank AB

Swedbank AB increased its stake in shares of Loews Co. (NYSE:L - Free Report) by 8.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 379,647 shares of the insurance provider's stock after purchasing an additional 30,600 shares during the period. Swedbank AB owned 0.17% of Loews worth $30,011,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc boosted its stake in shares of Loews by 244.0% during the second quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider's stock valued at $28,000 after purchasing an additional 266 shares during the period. Eastern Bank bought a new stake in Loews during the third quarter worth about $47,000. Kimelman & Baird LLC bought a new position in shares of Loews during the second quarter valued at approximately $45,000. Family Firm Inc. bought a new stake in Loews in the second quarter worth $46,000. Finally, Innealta Capital LLC purchased a new stake in shares of Loews in the second quarter worth $51,000. Institutional investors own 58.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. StockNews.com downgraded shares of Loews from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, November 20th. Jefferies Financial Group reduced their price objective on Loews from $115.00 to $112.00 and set a "buy" rating for the company in a research report on Wednesday, July 31st.

Loews Price Performance

Loews stock traded up $0.78 during midday trading on Tuesday, reaching $86.61. 561,589 shares of the stock traded hands, compared to its average volume of 716,279. 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 12 month low of $67.20 and a 12 month high of $86.90. The stock's fifty day moving average is $80.58 and its 200-day moving average is $78.46. The stock has a market cap of $18.86 billion, a P/E ratio of 11.40 and a beta of 0.82.

Loews Announces Dividend

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

Insider Activity

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $83.26, for a total value of $4,163,000.00. Following the sale, the director now owns 11,939,677 shares in the company, valued at $994,097,507.02. This trade represents a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ann E. Berman sold 1,087 shares of Loews stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the sale, the director now owns 4,998 shares of the company's stock, valued at $406,737.24. The trade was a 17.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 213,587 shares of company stock valued at $17,586,460. 18.70% of the stock is currently owned by insiders.

About Loews

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.