Zurcher Kantonalbank Zurich Cantonalbank Raises Stake in Loews Co. (NYSE:L)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Loews Co. (NYSE:L - Free Report) by 24.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,327 shares of the insurance provider's stock after acquiring an additional 6,885 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Loews were worth $2,992,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Venturi Wealth Management LLC grew its stake in Loews by 10.6% in the 4th quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider's stock valued at $105,000 after purchasing an additional 119 shares during the period. Wedmont Private Capital grew its position in Loews by 5.2% during the fourth quarter. Wedmont Private Capital now owns 3,065 shares of the insurance provider's stock valued at $249,000 after buying an additional 151 shares during the period. Summit Trail Advisors LLC raised its position in Loews by 2.6% in the third quarter. Summit Trail Advisors LLC now owns 6,038 shares of the insurance provider's stock worth $477,000 after acquiring an additional 153 shares during the period. Mather Group LLC. boosted its stake in Loews by 7.7% in the fourth quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider's stock valued at $190,000 after acquiring an additional 161 shares during the last quarter. Finally, Perigon Wealth Management LLC grew its position in shares of Loews by 5.9% during the 4th quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider's stock valued at $285,000 after acquiring an additional 183 shares during the period. Institutional investors own 58.33% of the company's stock.

Remove Ads

Insider Buying and Selling at Loews

In related news, Director Jonathan M. Tisch sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total value of $4,254,000.00. Following the transaction, the director now directly owns 7,105,529 shares in the company, valued at approximately $604,538,407.32. This represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan M. Tisch sold 3,691 shares of Loews stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total transaction of $320,710.99. The disclosure for this sale can be found here. Insiders sold 158,860 shares of company stock valued at $13,486,463 in the last quarter. 18.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Loews Stock Performance

NYSE:L traded up $0.87 on Wednesday, reaching $87.81. 457,720 shares of the company's stock were exchanged, compared to its average volume of 711,894. The firm has a market cap of $18.69 billion, a price-to-earnings ratio of 13.72 and a beta of 0.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The stock has a fifty day simple moving average of $84.93 and a 200-day simple moving average of $82.95. Loews Co. has a 52 week low of $72.91 and a 52 week high of $88.29.

Loews (NYSE:L - Get Free Report) last issued its earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Announces Dividend

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

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.