Principal Securities Inc. Raises Stake in Loews Co. (NYSE:L)

Principal Securities Inc. raised its holdings in shares of Loews Co. (NYSE:L) by 24.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,440 shares of the insurance provider’s stock after acquiring an additional 282 shares during the period. Principal Securities Inc.’s holdings in Loews were worth $122,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in Loews during the 3rd quarter valued at $40,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Loews during the third quarter worth about $49,000. Quest Partners LLC purchased a new stake in shares of Loews during the third quarter worth about $129,000. Mather Group LLC. grew its stake in shares of 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 purchasing an additional 161 shares during the last quarter. Finally, Banco Santander S.A. purchased a new position in Loews during the 3rd quarter valued at about $202,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Loews Stock Performance

Loews stock opened at $84.91 on Wednesday. Loews Co. has a fifty-two week low of $72.91 and a fifty-two week high of $88.29. The stock’s 50 day simple moving average is $84.40 and its two-hundred day simple moving average is $82.30. 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 cap of $18.07 billion, a price-to-earnings ratio of 13.27 and a beta of 0.83.

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

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. Loews’s payout ratio is 3.91%.

Insiders Place Their Bets

In related news, Director Jonathan M. Tisch sold 3,691 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles M. Diker sold 1,146 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total value of $99,507.18. Following the sale, the director now owns 19,906 shares in the company, valued at approximately $1,728,437.98. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,370 shares of company stock worth $1,055,627. 18.70% of the stock is currently owned by company 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.