Vident Investment Advisory LLC boosted its holdings in shares of Loews Corporation (NYSE:L) by 19.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,941 shares of the insurance provider’s stock after acquiring an additional 10,715 shares during the quarter. Vident Investment Advisory LLC’s holdings in Loews were worth $3,156,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Loews by 2.1% during the second quarter. Vanguard Group Inc. now owns 18,649,024 shares of the insurance provider’s stock worth $872,960,000 after acquiring an additional 391,900 shares during the last quarter. BlackRock Inc. boosted its position in shares of Loews by 1.2% during the second quarter. BlackRock Inc. now owns 17,570,706 shares of the insurance provider’s stock worth $822,484,000 after buying an additional 212,384 shares during the period. Wells Fargo & Company MN boosted its position in shares of Loews by 15.9% during the third quarter. Wells Fargo & Company MN now owns 5,038,288 shares of the insurance provider’s stock worth $241,132,000 after buying an additional 689,401 shares during the period. Northern Trust Corp boosted its position in shares of Loews by 11.8% during the second quarter. Northern Trust Corp now owns 3,582,780 shares of the insurance provider’s stock worth $167,709,000 after buying an additional 377,248 shares during the period. Finally, TD Asset Management Inc. boosted its position in shares of Loews by 13.3% during the third quarter. TD Asset Management Inc. now owns 1,876,838 shares of the insurance provider’s stock worth $89,825,000 after buying an additional 220,154 shares during the period. 59.39% of the stock is owned by institutional investors.
Loews Corporation (NYSE:L) opened at $49.84 on Friday. The stock has a market capitalization of $16,777.69, a price-to-earnings ratio of 17.31 and a beta of 0.74. Loews Corporation has a fifty-two week low of $45.01 and a fifty-two week high of $51.02. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.46.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Wednesday, November 29th will be paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Tuesday, November 28th. Loews’s dividend payout ratio is presently 8.90%.
In other news, VP Mark S. Schwartz sold 6,489 shares of Loews stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $50.25, for a total transaction of $326,072.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Richard Waldo Scott sold 6,471 shares of Loews stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $49.80, for a total value of $322,255.80. Following the sale, the senior vice president now owns 11,250 shares in the company, valued at approximately $560,250. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,420,223 shares of company stock worth $68,779,839. 11.80% of the stock is owned by insiders.
Several research analysts have recently commented on the company. BidaskClub lowered Loews from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. ValuEngine lowered Loews from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Finally, Zacks Investment Research lowered Loews from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd.
Loews Company Profile
Loews Corporation is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. The Company has five segments consisted of its four individual operating subsidiaries, CNA Financial Corporation (CNA), Diamond Offshore Drilling, Inc (Diamond Offshore), Boardwalk Pipeline Partners, LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels), and the Corporate segment.
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