Loews Co. (NYSE:L) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its stake in shares of Loews Co. (NYSE:L) by 7.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,515 shares of the insurance provider’s stock after selling 296 shares during the quarter. Truist Financial Corp’s holdings in Loews were worth $298,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in Loews by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock valued at $127,409,000 after purchasing an additional 8,615 shares in the last quarter. Miracle Mile Advisors LLC acquired a new stake in shares of Loews in the fourth quarter valued at $315,000. Intech Investment Management LLC boosted its stake in Loews by 8.0% during the third quarter. Intech Investment Management LLC now owns 137,566 shares of the insurance provider’s stock valued at $10,875,000 after buying an additional 10,213 shares in the last quarter. Swedbank AB grew its holdings in Loews by 8.8% during the third quarter. Swedbank AB now owns 379,647 shares of the insurance provider’s stock worth $30,011,000 after acquiring an additional 30,600 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in Loews by 47.8% in the third quarter. PNC Financial Services Group Inc. now owns 37,319 shares of the insurance provider’s stock worth $2,950,000 after acquiring an additional 12,070 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Price Performance

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

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

Loews Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Transactions at Loews

In related news, Director Andrew H. Tisch sold 7,533 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $84.35, for a total value of $635,408.55. Following the completion of the sale, the director now directly owns 1,568,191 shares of the company’s stock, valued at approximately $132,276,910.85. This represents a 0.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan M. Tisch sold 3,691 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was 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. Insiders have sold a total of 61,224 shares of company stock valued at $5,210,120 over the last ninety days. Corporate insiders own 18.70% of the company’s stock.

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.