Stifel Financial Corp Sells 1,711 Shares of Loews Co. (NYSE:L)

Stifel Financial Corp lowered its holdings in shares of Loews Co. (NYSE:L) by 15.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,150 shares of the insurance provider’s stock after selling 1,711 shares during the quarter. Stifel Financial Corp’s holdings in Loews were worth $723,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in Loews by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock worth $127,409,000 after purchasing an additional 8,615 shares during the period. Intech Investment Management LLC raised its position in shares of Loews by 8.0% in the third quarter. Intech Investment Management LLC now owns 137,566 shares of the insurance provider’s stock valued at $10,875,000 after purchasing an additional 10,213 shares during the period. Swedbank AB lifted its stake in shares of Loews by 8.8% in the third quarter. Swedbank AB now owns 379,647 shares of the insurance provider’s stock worth $30,011,000 after buying an additional 30,600 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Loews by 47.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 37,319 shares of the insurance provider’s stock worth $2,950,000 after buying an additional 12,070 shares during the period. Finally, Citigroup Inc. grew its stake in Loews by 35.5% in the 3rd quarter. Citigroup Inc. now owns 266,850 shares of the insurance provider’s stock valued at $21,094,000 after buying an additional 69,896 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insiders Place Their Bets

In other Loews news, Director Charles M. Diker sold 1,146 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total value of $99,507.18. Following the transaction, the director now directly owns 19,906 shares in the company, valued at approximately $1,728,437.98. This trade represents a 5.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction on Friday, November 15th. The shares were sold at an average price of $83.26, for a total value of $4,163,000.00. Following the completion of the sale, the director now directly owns 11,939,677 shares of the company’s stock, valued at $994,097,507.02. This trade represents a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 126,146 shares of company stock valued at $10,499,507. 18.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Loews from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th.

Loews Stock Up 1.7 %

L opened at $84.80 on Thursday. Loews Co. has a twelve month low of $68.49 and a twelve month high of $87.45. The firm has a market cap of $18.47 billion, a price-to-earnings ratio of 11.26 and a beta of 0.83. The firm’s 50-day simple moving average is $83.14 and its 200-day simple moving average is $79.79. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th were given a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.25 annualized dividend and a yield of 0.29%. Loews’s payout ratio is 3.32%.

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.