Vanguard Group Inc. Buys 108,882 Shares of Loews Corporation $L

Vanguard Group Inc. grew its stake in shares of Loews Corporation (NYSE:L) by 0.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 19,426,064 shares of the insurance provider’s stock after acquiring an additional 108,882 shares during the period. Vanguard Group Inc. owned about 0.09% of Loews worth $2,045,759,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. SJS Investment Consulting Inc. increased its position in shares of Loews by 880.8% in the third quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 229 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Loews in the fourth quarter worth approximately $27,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in shares of Loews in the third quarter worth approximately $30,000. Harbor Investment Advisory LLC bought a new position in shares of Loews in the fourth quarter worth approximately $30,000. Finally, Private Trust Co. NA increased its position in shares of Loews by 896.7% in the fourth quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 269 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors.

Insider Transactions at Loews

In related news, Director Andrew H. Tisch sold 50,000 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $108.81, for a total value of $5,440,500.00. Following the completion of the sale, the director owned 12,480,400 shares of the company’s stock, valued at $1,357,992,324. This trade represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Marc A. Alpert sold 3,495 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $109.87, for a total value of $383,995.65. Following the completion of the sale, the vice president directly owned 16,325 shares of the company’s stock, valued at $1,793,627.75. The trade was a 17.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 105,417 shares of company stock worth $11,549,723. Insiders own 19.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Loews in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Strong Buy”.

Loews Stock Down 0.9%

Shares of L opened at $111.33 on Thursday. The firm has a market cap of $22.91 billion, a P/E ratio of 13.95 and a beta of 0.59. The stock has a 50 day simple moving average of $109.02 and a two-hundred day simple moving average of $106.04. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.36 and a quick ratio of 0.36. Loews Corporation has a 1 year low of $84.89 and a 1 year high of $114.90.

Loews (NYSE:L) last issued its earnings results on Monday, February 9th. The insurance provider reported $1.94 earnings per share (EPS) for the quarter. Loews had a net margin of 9.03% and a return on equity of 8.86%. The firm had revenue of $4.73 billion for the quarter.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th were issued a $0.0625 dividend. The ex-dividend date was Wednesday, February 25th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s dividend payout ratio (DPR) is currently 3.13%.

Loews Company Profile

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.