Principal Financial Group Inc. Sells 5,337 Shares of Loews Co. (NYSE:L)

Principal Financial Group Inc. lessened its stake in shares of Loews Co. (NYSE:L) by 2.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 243,328 shares of the insurance provider’s stock after selling 5,337 shares during the period. Principal Financial Group Inc. owned about 0.11% of Loews worth $20,607,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Wedmont Private Capital grew its holdings in Loews by 5.2% during the 4th quarter. Wedmont Private Capital now owns 3,065 shares of the insurance provider’s stock worth $249,000 after acquiring an additional 151 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in shares of Loews by 2.6% during the third quarter. Summit Trail Advisors LLC now owns 6,038 shares of the insurance provider’s stock valued at $477,000 after purchasing an additional 153 shares in the last quarter. Mather Group LLC. raised its stake in Loews by 7.7% in the fourth quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider’s stock worth $190,000 after buying an additional 161 shares in the last quarter. Perigon Wealth Management LLC lifted its holdings in Loews by 5.9% during the fourth quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider’s stock worth $285,000 after buying an additional 183 shares during the period. Finally, Ballentine Partners LLC boosted its position in Loews by 5.2% during the 3rd quarter. Ballentine Partners LLC now owns 3,772 shares of the insurance provider’s stock valued at $298,000 after acquiring an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Insider Activity at Loews

In other Loews news, Director Charles M. Diker sold 1,146 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $86.83, for a total transaction of $99,507.18. Following the sale, the director now owns 19,906 shares in the company, valued at approximately $1,728,437.98. The trade was a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew H. Tisch sold 7,533 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $84.35, for a total value of $635,408.55. Following the completion of the transaction, the director now directly owns 1,568,191 shares in the company, valued at $132,276,910.85. This represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,370 shares of company stock valued at $1,055,627 in the last ninety days. Corporate insiders own 18.70% of the company’s stock.

Loews Stock Up 1.9 %

NYSE:L opened at $84.31 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a market capitalization of $17.95 billion, a P/E ratio of 13.17 and a beta of 0.83. The company’s 50-day simple moving average is $84.37 and its 200-day simple moving average is $82.25. Loews Co. has a fifty-two week low of $72.91 and a fifty-two week high of $88.29.

Loews (NYSE:L) last announced its earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th will be paid a dividend of $0.0625 per share. The ex-dividend date is Wednesday, February 26th. This represents a $0.25 annualized dividend and a yield of 0.30%. Loews’s dividend payout ratio (DPR) is 3.91%.

Analyst Ratings Changes

Separately, StockNews.com lowered Loews from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

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.