Janney Montgomery Scott LLC Decreases Stake in Loews Co. (NYSE:L)

Janney Montgomery Scott LLC cut its holdings in shares of Loews Co. (NYSE:LFree Report) by 15.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 23,204 shares of the insurance provider’s stock after selling 4,258 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Loews were worth $1,965,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp grew its stake in Loews by 1.0% during the third quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock valued at $638,506,000 after acquiring an additional 82,581 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Loews by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider’s stock worth $336,005,000 after purchasing an additional 53,428 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Loews by 2.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,183,138 shares of the insurance provider’s stock worth $251,627,000 after purchasing an additional 69,459 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Loews by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock valued at $127,409,000 after buying an additional 8,615 shares during the period. Finally, Barclays PLC grew its holdings in shares of Loews by 13.1% during the third quarter. Barclays PLC now owns 752,380 shares of the insurance provider’s stock worth $59,473,000 after purchasing an additional 87,259 shares in the last quarter. Institutional investors own 58.33% of the company’s stock.

Loews Trading Down 0.9 %

NYSE:L opened at $85.44 on Monday. The company has a 50-day moving average price of $84.73 and a 200-day moving average price of $81.55. The stock has a market cap of $18.61 billion, a price-to-earnings ratio of 11.35 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 0.48. Loews Co. has a 12 month low of $71.45 and a 12 month high of $87.45.

Loews (NYSE:LGet Free Report) last announced its earnings results on Monday, November 4th. The insurance provider reported $1.82 earnings per share for the quarter. The business had revenue of $4.47 billion during the quarter. Loews had a net margin of 9.71% and a return on equity of 9.70%.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 27th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Wednesday, November 27th. Loews’s dividend payout ratio is currently 3.32%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Loews from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th.

View Our Latest Report on L

Insiders Place Their Bets

In other news, Director Charles M. Diker sold 1,146 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total transaction of $99,507.18. Following the sale, the director now directly owns 19,906 shares in the company, valued at $1,728,437.98. This trade represents a 5.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew H. Tisch sold 7,533 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total transaction of $635,408.55. Following the completion of the transaction, the director now directly owns 1,568,191 shares of the company’s stock, valued at $132,276,910.85. This represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,679 shares of company stock valued at $11,134,916. Company insiders own 18.70% of the company’s stock.

About Loews

(Free Report)

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.

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Institutional Ownership by Quarter for Loews (NYSE:L)

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