Thrivent Financial for Lutherans grew its holdings in Loews Co. (NYSE:L – Get Rating) by 37.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,264 shares of the insurance provider’s stock after purchasing an additional 3,345 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Loews were worth $716,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. boosted its stake in Loews by 416.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 496 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 400 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Loews during the second quarter worth $36,000. CI Investments Inc. raised its position in shares of Loews by 61.8% during the third quarter. CI Investments Inc. now owns 626 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 239 shares during the last quarter. Ronald Blue Trust Inc. raised its position in shares of Loews by 165.1% during the fourth quarter. Ronald Blue Trust Inc. now owns 835 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 520 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Loews by 97.9% during the third quarter. EverSource Wealth Advisors LLC now owns 845 shares of the insurance provider’s stock worth $42,000 after acquiring an additional 418 shares during the last quarter. Institutional investors and hedge funds own 64.00% of the company’s stock.
Loews Trading Down 1.3 %
NYSE L opened at $57.17 on Thursday. The stock has a 50-day simple moving average of $57.09 and a 200 day simple moving average of $58.12. The company has a market capitalization of $13.03 billion, a PE ratio of 12.96 and a beta of 0.82. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.53. Loews Co. has a 12 month low of $49.36 and a 12 month high of $66.34.
Loews Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Wednesday, May 24th will be issued a $0.0625 dividend. The ex-dividend date is Tuesday, May 23rd. This represents a $0.25 dividend on an annualized basis and a yield of 0.44%. Loews’s dividend payout ratio is presently 5.67%.
Wall Street Analysts Forecast Growth
Separately, StockNews.com initiated coverage on Loews in a research report on Thursday, May 18th. They set a “buy” rating for the company.
Insider Activity at Loews
In other Loews news, major shareholder Corp Loews purchased 34,996 shares of the stock in a transaction on Monday, May 1st. The stock was bought at an average cost of $38.93 per share, for a total transaction of $1,362,394.28. Following the completion of the acquisition, the insider now directly owns 243,918,659 shares of the company’s stock, valued at $9,495,753,394.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Loews news, Director Philip A. Laskawy sold 625 shares of the stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $60.96, for a total value of $38,100.00. Following the completion of the sale, the director now directly owns 7,365 shares in the company, valued at $448,970.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Corp Loews acquired 34,996 shares of Loews stock in a transaction dated Monday, May 1st. The shares were purchased at an average cost of $38.93 per share, with a total value of $1,362,394.28. Following the completion of the transaction, the insider now directly owns 243,918,659 shares of the company’s stock, valued at $9,495,753,394.87. The disclosure for this purchase can be found here. 18.30% of the stock is currently owned by corporate insiders.
Loews Corp. is a holding company, which engages in the business of commercial property and casualty insurance, transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. It operates through the following segments: CNA Financial Corporation, Boardwalk Pipeline Partners, LP and Loews Hotels Holding Corporation, and Corporate.
- Get a free copy of the StockNews.com research report on Loews (L)
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