US Bancorp DE Cuts Stake in Loews Co. (NYSE:L)

US Bancorp DE lowered its position in Loews Co. (NYSE:LGet Rating) by 5.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,204 shares of the insurance provider’s stock after selling 847 shares during the quarter. US Bancorp DE’s holdings in Loews were worth $757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Assenagon Asset Management S.A. bought a new stake in Loews in the third quarter valued at approximately $4,331,000. Strs Ohio raised its holdings in shares of Loews by 1.9% during the third quarter. Strs Ohio now owns 46,585 shares of the insurance provider’s stock valued at $2,321,000 after acquiring an additional 876 shares in the last quarter. Wipfli Financial Advisors LLC bought a new position in shares of Loews during the third quarter valued at approximately $49,000. Dearborn Partners LLC bought a new position in shares of Loews during the third quarter valued at approximately $1,830,000. Finally, Mraz Amerine & Associates Inc. raised its holdings in shares of Loews by 1.3% during the third quarter. Mraz Amerine & Associates Inc. now owns 279,287 shares of the insurance provider’s stock valued at $13,920,000 after acquiring an additional 3,627 shares in the last quarter. Institutional investors own 64.00% of the company’s stock.

Loews Price Performance

L opened at $58.96 on Friday. The stock has a fifty day simple moving average of $57.62 and a two-hundred day simple moving average of $56.26. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.58. The company has a market cap of $14.00 billion, a price-to-earnings ratio of 14.74 and a beta of 0.83. Loews Co. has a 12-month low of $49.36 and a 12-month high of $68.20.

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

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 6th. Stockholders of record on Wednesday, November 23rd were paid a $0.0625 dividend. The ex-dividend date of this dividend was Tuesday, November 22nd. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.42%. Loews’s dividend payout ratio is currently 6.25%.

Insider Transactions at Loews

In other news, insider Jonathan M. Tisch sold 14,467 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $58.40, for a total value of $844,872.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Jonathan M. Tisch sold 14,467 shares of the stock in a transaction on Tuesday, January 3rd. The stock was 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 can be accessed through the SEC website. Also, Director Philip A. Laskawy sold 698 shares of the stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $58.07, for a total value of $40,532.86. Following the sale, the director now directly owns 7,365 shares in the company, valued at $427,685.55. The disclosure for this sale can be found here. Insiders own 17.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on L shares. StockNews.com upgraded Loews from a “hold” rating to a “buy” rating in a report on Wednesday, November 2nd. TheStreet upgraded Loews from a “c+” rating to a “b-” rating in a report on Wednesday, November 23rd.

Loews Profile

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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.

See Also

Want to see what other hedge funds are holding L? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Loews Co. (NYSE:LGet Rating).

Institutional Ownership by Quarter for Loews (NYSE:L)

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