Wellington Management Group LLP Raises Position in Loews Co. (NYSE:L)

Wellington Management Group LLP grew its position in shares of Loews Co. (NYSE:L) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,526 shares of the insurance provider’s stock after buying an additional 145 shares during the quarter. Wellington Management Group LLP’s holdings in Loews were worth $1,428,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Loews during the 4th quarter valued at about $511,159,000. Northern Trust Corp boosted its holdings in Loews by 11.9% in the fourth quarter. Northern Trust Corp now owns 2,503,105 shares of the insurance provider’s stock worth $174,191,000 after purchasing an additional 266,729 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Loews by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,587,817 shares of the insurance provider’s stock worth $110,496,000 after purchasing an additional 21,323 shares during the period. Royal Bank of Canada raised its stake in Loews by 2.6% during the 3rd quarter. Royal Bank of Canada now owns 935,189 shares of the insurance provider’s stock valued at $59,207,000 after buying an additional 23,756 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Loews by 9.0% during the 4th quarter. Hsbc Holdings PLC now owns 570,748 shares of the insurance provider’s stock valued at $39,698,000 after buying an additional 46,990 shares during the period. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Stock Performance

Shares of NYSE L opened at $74.73 on Tuesday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a 12-month low of $58.81 and a 12-month high of $78.55. The firm has a market capitalization of $16.55 billion, a price-to-earnings ratio of 11.09 and a beta of 0.84. The firm has a 50 day moving average of $75.93 and a 200 day moving average of $74.32.

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

Loews Dividend Announcement

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

Insider Buying and Selling

In other news, insider Jonathan M. Tisch sold 50,000 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $77.14, for a total value of $3,857,000.00. Following the transaction, the insider now owns 457,799 shares of the company’s stock, valued at $35,314,614.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 150,000 shares of company stock worth $11,588,500. 18.70% of the stock is owned by corporate insiders.

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 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.