UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 224,747 Shares of Loews Co. (NYSE:L)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in shares of Loews Co. (NYSE:L - Free Report) by 15.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,215,841 shares of the insurance provider's stock after selling 224,747 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.56% of Loews worth $96,112,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of L. TD Asset Management Inc increased its holdings in shares of Loews by 77.9% in the second quarter. TD Asset Management Inc now owns 525,920 shares of the insurance provider's stock worth $39,307,000 after acquiring an additional 230,231 shares in the last quarter. Bank of Montreal Can lifted its holdings in Loews by 106.3% during the 2nd quarter. Bank of Montreal Can now owns 353,160 shares of the insurance provider's stock worth $27,338,000 after purchasing an additional 182,009 shares during the last quarter. Lee Danner & Bass Inc. acquired a new stake in Loews during the 2nd quarter worth approximately $13,379,000. Dimensional Fund Advisors LP increased its stake in Loews by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider's stock worth $199,858,000 after acquiring an additional 161,810 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in Loews by 22.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 569,156 shares of the insurance provider's stock worth $44,992,000 after acquiring an additional 105,810 shares during the period. 58.33% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Jonathan M. Tisch sold 62,500 shares of the firm's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $80.84, for a total value of $5,052,500.00. Following the sale, the insider now directly owns 6,781,634 shares of the company's stock, valued at approximately $548,227,292.56. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew H. Tisch sold 75,000 shares of Loews stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $83.16, for a total transaction of $6,237,000.00. Following the completion of the sale, the director now owns 12,089,677 shares of the company's stock, valued at approximately $1,005,377,539.32. This trade represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 213,587 shares of company stock worth $17,586,460. Corporate insiders own 18.70% of the company's stock.

Analyst Ratings Changes

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

Loews Stock Performance

Shares of NYSE:L traded down $0.56 on Monday, hitting $86.17. 808,092 shares of the company were exchanged, compared to its average volume of 714,211. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. The stock's 50 day moving average price is $81.35 and its 200 day moving average price is $78.80. Loews Co. has a 1-year low of $67.20 and a 1-year high of $87.45. The firm has a market capitalization of $18.77 billion, a P/E ratio of 11.44 and a beta of 0.82.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th will be given 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 of this dividend is Wednesday, November 27th. Loews's dividend payout ratio is presently 3.32%.

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.