Raymond James & Associates Decreases Holdings in Loews Co. (NYSE:L)

Raymond James & Associates lowered its holdings in Loews Co. (NYSE:L – Get Rating) by 24.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 37,882 shares of the insurance provider’s stock after selling 12,398 shares during the quarter. Raymond James & Associates’ holdings in Loews were worth $1,888,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in L. American Century Companies Inc. lifted its position in Loews by 15.6% in the first quarter. American Century Companies Inc. now owns 19,679 shares of the insurance provider’s stock valued at $1,275,000 after acquiring an additional 2,655 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Loews by 21.1% in the 1st quarter. MetLife Investment Management LLC now owns 53,610 shares of the insurance provider’s stock valued at $3,475,000 after purchasing an additional 9,333 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Loews by 4.3% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,236 shares of the insurance provider’s stock valued at $1,701,000 after purchasing an additional 1,081 shares during the period. Vontobel Holding Ltd. grew its stake in Loews by 6.5% during the 1st quarter. Vontobel Holding Ltd. now owns 4,934 shares of the insurance provider’s stock worth $323,000 after buying an additional 300 shares during the last quarter. Finally, Aviva PLC increased its position in Loews by 285.4% during the first quarter. Aviva PLC now owns 158,071 shares of the insurance provider’s stock worth $10,246,000 after buying an additional 117,052 shares during the period. Institutional investors and hedge funds own 64.00% of the company’s stock.

Loews Stock Up 1.1 %

Loews stock opened at $59.58 on Tuesday. The stock has a 50 day moving average of $57.70 and a two-hundred day moving average of $56.24. Loews Co. has a twelve month low of $49.36 and a twelve month high of $68.20. The stock has a market capitalization of $14.15 billion, a price-to-earnings ratio of 14.90 and a beta of 0.83. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.58.

Loews (NYSE:L – Get Rating) last issued its quarterly earnings results on Monday, October 31st. The insurance provider reported $0.86 earnings per share for the quarter. The firm 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 company also recently declared a quarterly dividend, which was paid on Tuesday, December 6th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.42%. Loews’s dividend payout ratio (DPR) is 6.25%.

Analysts Set New Price Targets

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

Insider Buying and Selling

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

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.