Loews Co. (NYSE:L) Shares Acquired by Prudential Financial Inc.

Prudential Financial Inc. increased its position in shares of Loews Co. (NYSE:L) by 14.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,256 shares of the insurance provider’s stock after purchasing an additional 20,874 shares during the period. Prudential Financial Inc.’s holdings in Loews were worth $13,741,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of L. Halbert Hargrove Global Advisors LLC acquired a new stake in Loews during the fourth quarter worth approximately $26,000. Brooklyn Investment Group acquired a new stake in Loews during the 3rd quarter worth $40,000. Human Investing LLC purchased a new stake in Loews in the fourth quarter valued at $51,000. Wilmington Savings Fund Society FSB acquired a new position in Loews in the third quarter valued at $49,000. Finally, Intact Investment Management Inc. purchased a new position in shares of Loews during the fourth quarter worth about $68,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, Director Jonathan M. Tisch sold 3,691 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $86.89, for a total transaction of $320,710.99. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jonathan M. Tisch sold 50,000 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the transaction, the director now directly owns 7,105,529 shares of the company’s stock, valued at $604,538,407.32. This represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 158,860 shares of company stock valued at $13,486,463. 18.70% of the stock is owned by company insiders.

Loews Stock Performance

Shares of L opened at $91.54 on Friday. The company’s 50 day simple moving average is $85.69 and its 200-day simple moving average is $83.30. Loews Co. has a 12-month low of $72.91 and a 12-month high of $91.75. The firm has a market cap of $19.48 billion, a PE ratio of 14.30 and a beta of 0.80. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50.

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

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews’s dividend payout ratio is presently 3.91%.

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.