Forsta AP Fonden lowered its holdings in shares of Loews Co. (NYSE:L) by 10.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 146,781 shares of the insurance provider’s stock after selling 16,700 shares during the period. Forsta AP Fonden’s holdings in Loews were worth $7,343,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of L. Wells Fargo & Company MN boosted its stake in Loews by 15.9% during the 3rd quarter. Wells Fargo & Company MN now owns 5,038,288 shares of the insurance provider’s stock worth $241,132,000 after purchasing an additional 689,401 shares during the period. St. James Investment Company LLC acquired a new stake in Loews during the 3rd quarter worth $29,452,000. PGGM Investments boosted its stake in Loews by 188.9% during the 3rd quarter. PGGM Investments now owns 677,650 shares of the insurance provider’s stock worth $32,432,000 after purchasing an additional 443,056 shares during the period. TD Asset Management Inc. boosted its stake in Loews by 13.3% during the 3rd quarter. TD Asset Management Inc. now owns 1,876,838 shares of the insurance provider’s stock worth $89,825,000 after purchasing an additional 220,154 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in Loews by 206.5% during the 4th quarter. Teacher Retirement System of Texas now owns 280,246 shares of the insurance provider’s stock worth $14,021,000 after purchasing an additional 188,813 shares during the period. Hedge funds and other institutional investors own 59.43% of the company’s stock.
Shares of Loews Co. (L) opened at $48.87 on Thursday. Loews Co. has a 52 week low of $45.01 and a 52 week high of $53.59. The company has a market cap of $15,970.69, a price-to-earnings ratio of 16.47 and a beta of 0.71. 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, March 13th. Stockholders of record on Wednesday, February 28th will be paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Tuesday, February 27th. Loews’s dividend payout ratio (DPR) is presently 7.25%.
A number of analysts recently weighed in on the stock. Desjardins cut shares of Loews to a “hold” rating and set a $76.00 price target for the company. in a research note on Tuesday, January 30th. Zacks Investment Research upgraded shares of Loews from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Friday, January 5th. Finally, ValuEngine cut shares of Loews from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $56.00.
In other news, insider Jonathan M. Tisch sold 7,800 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $47.51, for a total value of $370,578.00. Following the completion of the transaction, the insider now owns 2,990,022 shares in the company, valued at approximately $142,055,945.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kenneth I. Siegel sold 4,907 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $49.69, for a total transaction of $243,828.83. Following the completion of the transaction, the insider now owns 5,625 shares of the company’s stock, valued at approximately $279,506.25. The disclosure for this sale can be found here. Insiders sold a total of 28,360 shares of company stock valued at $1,400,277 in the last 90 days. Company insiders own 11.80% of the company’s stock.
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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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