Private Advisor Group LLC Reduces Position in Loews Co. (NYSE:L)

Private Advisor Group LLC trimmed its holdings in shares of Loews Co. (NYSE:L) by 24.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,804 shares of the insurance provider’s stock after selling 1,262 shares during the quarter. Private Advisor Group LLC’s holdings in Loews were worth $322,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brooklyn Investment Group acquired a new stake in Loews during the third quarter valued at approximately $40,000. Human Investing LLC bought a new position in shares of Loews during the fourth quarter valued at approximately $51,000. Wilmington Savings Fund Society FSB bought a new position in shares of Loews during the third quarter valued at approximately $49,000. Venturi Wealth Management LLC grew its holdings in shares of Loews by 10.6% during the fourth quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider’s stock valued at $105,000 after purchasing an additional 119 shares during the last quarter. Finally, Principal Securities Inc. grew its holdings in shares of Loews by 24.4% during the fourth quarter. Principal Securities Inc. now owns 1,440 shares of the insurance provider’s stock valued at $122,000 after purchasing an additional 282 shares during the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Jonathan M. Tisch sold 50,000 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $85.08, for a total value of $4,254,000.00. Following the completion of the sale, the director now owns 7,105,529 shares in the company, valued at $604,538,407.32. This represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan M. Tisch sold 3,691 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,224 shares of company stock worth $5,210,120. Insiders own 18.70% of the company’s stock.

Loews Stock Performance

Shares of NYSE L opened at $85.40 on Thursday. The stock has a fifty day moving average price of $84.69 and a two-hundred day moving average price of $82.60. 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 firm has a market cap of $18.18 billion, a P/E ratio of 13.34 and a beta of 0.83. Loews Co. has a 1 year low of $72.91 and a 1 year high of $88.29.

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

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be given a dividend of $0.0625 per share. The ex-dividend date is Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. Loews’s dividend payout ratio (DPR) is presently 3.91%.

Analyst Ratings Changes

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

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.