PNC Financial Services Group Inc. Raises Holdings in Loews Co. (NYSE:L)

PNC Financial Services Group Inc. lifted its holdings in shares of Loews Co. (NYSE:L) by 11.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,066 shares of the insurance provider’s stock after purchasing an additional 2,625 shares during the period. PNC Financial Services Group Inc.’s holdings in Loews were worth $1,744,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of L. Wellington Management Group LLP boosted its holdings in shares of Loews by 0.7% in the 4th quarter. Wellington Management Group LLP now owns 20,526 shares of the insurance provider’s stock valued at $1,428,000 after purchasing an additional 145 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Loews by 41.4% during the 4th quarter. Lindbrook Capital LLC now owns 611 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 179 shares in the last quarter. Chase Investment Counsel Corp lifted its holdings in shares of Loews by 0.5% during the 4th quarter. Chase Investment Counsel Corp now owns 36,553 shares of the insurance provider’s stock valued at $2,543,000 after acquiring an additional 190 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Loews by 4.3% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,839 shares of the insurance provider’s stock valued at $337,000 after acquiring an additional 199 shares in the last quarter. Finally, Optas LLC lifted its holdings in shares of Loews by 4.2% during the 4th quarter. Optas LLC now owns 7,935 shares of the insurance provider’s stock valued at $552,000 after acquiring an additional 320 shares in the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Stock Performance

NYSE:L opened at $76.56 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $16.95 billion, a price-to-earnings ratio of 11.36 and a beta of 0.85. The firm’s fifty day simple moving average is $75.75 and its 200 day simple moving average is $74.05. Loews Co. has a twelve month low of $57.55 and a twelve month high of $78.55.

Loews (NYSE:L) last posted its earnings results on Monday, May 6th. The insurance provider reported $2.05 earnings per share for the quarter. Loews had a net margin of 9.27% and a return on equity of 9.45%. The business had revenue of $4.23 billion for the quarter.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th were issued a $0.0625 dividend. The ex-dividend date was Wednesday, May 29th. This represents a $0.25 dividend on an annualized basis and a yield of 0.33%. Loews’s dividend payout ratio is currently 3.71%.

Insiders Place Their Bets

In other news, insider Jonathan M. Tisch sold 50,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $77.24, for a total value of $3,862,000.00. Following the completion of the sale, the insider now owns 507,799 shares of the company’s stock, valued at approximately $39,222,394.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 150,000 shares of company stock worth $11,588,500 in the last quarter. 18.70% of the stock is owned by corporate insiders.

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.