Zurcher Kantonalbank Zurich Cantonalbank Trims Holdings in Loews Co. (NYSE:L)

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of Loews Co. (NYSE:L - Free Report) by 20.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,442 shares of the insurance provider's stock after selling 7,361 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Loews were worth $2,248,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in L. Cetera Advisors LLC purchased a new stake in Loews during the first quarter worth about $339,000. DekaBank Deutsche Girozentrale increased its holdings in Loews by 62.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 46,675 shares of the insurance provider's stock worth $3,630,000 after buying an additional 18,001 shares during the last quarter. DNB Asset Management AS increased its holdings in Loews by 16.3% during the second quarter. DNB Asset Management AS now owns 31,510 shares of the insurance provider's stock worth $2,355,000 after buying an additional 4,425 shares during the last quarter. CWM LLC increased its holdings in Loews by 10.2% during the second quarter. CWM LLC now owns 3,659 shares of the insurance provider's stock worth $273,000 after buying an additional 338 shares during the last quarter. Finally, Carolina Wealth Advisors LLC increased its holdings in Loews by 13.2% during the second quarter. Carolina Wealth Advisors LLC now owns 10,601 shares of the insurance provider's stock worth $792,000 after buying an additional 1,233 shares during the last quarter. 58.33% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Loews news, Director Charles M. Diker sold 1,146 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $86.83, for a total transaction of $99,507.18. Following the transaction, the director now owns 19,906 shares in the company, valued at approximately $1,728,437.98. This represents a 5.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan M. Tisch sold 62,500 shares of the company's stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $80.84, for a total transaction of $5,052,500.00. Following the transaction, the insider now owns 6,781,634 shares in the company, valued at $548,227,292.56. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 188,646 shares of company stock worth $15,552,007 in the last quarter. Corporate insiders own 18.70% of the company's stock.

Loews Trading Down 0.2 %

Loews stock traded down $0.19 during mid-day trading on Wednesday, reaching $85.79. 312,664 shares of the company traded hands, compared to its average volume of 713,527. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. The firm's 50 day moving average price is $81.51 and its 200 day moving average price is $78.85. The firm has a market capitalization of $18.68 billion, a price-to-earnings ratio of 11.42 and a beta of 0.83. Loews Co. has a 52-week low of $67.20 and a 52-week high of $87.45.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 is Wednesday, November 27th. Loews's dividend payout ratio is presently 3.32%.

Analyst Ratings Changes

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

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.