Loews Co. (NYSE:L) Position Lifted by Comerica Bank

Comerica Bank raised its stake in shares of Loews Co. (NYSE:L – Get Rating) by 10.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,997 shares of the insurance provider’s stock after acquiring an additional 3,505 shares during the quarter. Comerica Bank’s holdings in Loews were worth $2,066,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in L. SeaCrest Wealth Management LLC bought a new position in shares of Loews in the 2nd quarter worth about $26,000. TCI Wealth Advisors Inc. lifted its position in shares of Loews by 131.7% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 584 shares of the insurance provider’s stock worth $35,000 after buying an additional 332 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in shares of Loews in the 2nd quarter worth about $36,000. CX Institutional bought a new position in shares of Loews in the 2nd quarter worth about $38,000. Finally, Wipfli Financial Advisors LLC bought a new position in shares of Loews in the 3rd quarter worth about $49,000. 64.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Loews

In other Loews news, insider Jonathan M. Tisch sold 14,467 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $58.40, for a total transaction of $844,872.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Loews news, insider Jonathan M. Tisch sold 14,467 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $58.40, for a total transaction of $844,872.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Philip A. Laskawy sold 698 shares of the firm’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $58.07, for a total transaction of $40,532.86. Following the transaction, the director now owns 7,365 shares of the company’s stock, valued at approximately $427,685.55. The disclosure for this sale can be found here. 17.50% of the stock is owned by corporate insiders.

Loews Stock Down 0.7 %

L stock opened at $58.07 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.58. Loews Co. has a fifty-two week low of $49.36 and a fifty-two week high of $68.20. The firm’s 50-day simple moving average is $57.56 and its 200 day simple moving average is $56.27. The stock has a market cap of $13.79 billion, a PE ratio of 14.52 and a beta of 0.83.

Loews (NYSE:L – Get Rating) last released its quarterly earnings data on Monday, October 31st. The insurance provider reported $0.86 earnings per share for the quarter. The business had revenue of $3.46 billion for the quarter. Loews had a net margin of 7.12% and a return on equity of 6.53%.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 6th. Shareholders of record on Wednesday, November 23rd were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Tuesday, November 22nd. This represents a $0.25 annualized dividend and a yield of 0.43%. Loews’s payout ratio is 6.25%.

Analyst Upgrades and Downgrades

L has been the topic of a number of analyst reports. TheStreet raised shares of Loews from a “c+” rating to a “b-” rating in a report on Wednesday, November 23rd. StockNews.com raised shares of Loews from a “hold” rating to a “buy” rating in a report on Wednesday, November 2nd.

About Loews

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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 property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto and umbrella coverages.