quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 800,961 shares of the insurance provider’s stock after selling 31,400 shares during the period. Swiss National Bank owned about 0.35% of Loews worth $46,472,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Raymond James & Associates raised its stake in Loews by 9.5% in the 1st quarter. Raymond James & Associates now owns 59,878 shares of the insurance provider’s stock valued at $3,881,000 after purchasing an additional 5,176 shares during the last quarter. American Century Companies Inc. raised its position in shares of Loews by 15.6% in the first quarter. American Century Companies Inc. now owns 19,679 shares of the insurance provider’s stock valued at $1,275,000 after buying an additional 2,655 shares during the last quarter. MetLife Investment Management LLC lifted its stake in shares of Loews by 21.1% during the first quarter. MetLife Investment Management LLC now owns 53,610 shares of the insurance provider’s stock valued at $3,475,000 after buying an additional 9,333 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Loews by 4.3% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,236 shares of the insurance provider’s stock worth $1,701,000 after acquiring an additional 1,081 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its stake in Loews by 6.5% in the 1st quarter. Vontobel Holding Ltd. now owns 4,934 shares of the insurance provider’s stock worth $323,000 after acquiring an additional 300 shares during the period. 55.75% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, StockNews.com started coverage on Loews in a research note on Thursday. They set a “buy” rating on the stock.
Insider Activity at Loews
In other Loews news, major shareholder Corp Loews purchased 4,456,050 shares of Loews stock in a transaction on Wednesday, August 2nd. The shares were purchased at an average cost of $39.29 per share, with a total value of $175,078,204.50. Following the completion of the transaction, the insider now directly owns 248,414,738 shares in the company, valued at approximately $9,760,215,056.02. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Corp Loews acquired 4,456,050 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were bought at an average cost of $39.29 per share, with a total value of $175,078,204.50. Following the completion of the transaction, the insider now directly owns 248,414,738 shares of the company’s stock, valued at approximately $9,760,215,056.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Benjamin J. Tisch bought 110,000 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was bought at an average cost of $57.88 per share, with a total value of $6,366,800.00. Following the transaction, the vice president now directly owns 350,310 shares of the company’s stock, valued at $20,275,942.80. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 4,676,050 shares of company stock worth $187,644,605. 18.30% of the stock is owned by insiders.
Loews Stock Down 0.0 %
Shares of NYSE:L opened at $61.59 on Monday. Loews Co. has a 12-month low of $49.36 and a 12-month high of $63.93. The stock’s 50-day moving average price is $60.67 and its two-hundred day moving average price is $59.12. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.52. The firm has a market cap of $13.89 billion, a price-to-earnings ratio of 11.71 and a beta of 0.83.
Loews (NYSE:L – Get Free Report) last released its earnings results on Monday, July 31st. The insurance provider reported $1.58 earnings per share (EPS) for the quarter. The firm had revenue of $3.93 billion during the quarter. Loews had a net margin of 8.21% and a return on equity of 8.72%.
Loews Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Wednesday, August 16th will be given a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Tuesday, August 15th. Loews’s dividend payout ratio (DPR) is currently 4.75%.
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 property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers’ compensation, general and product liability, and commercial auto and umbrella coverages.