Nuveen Asset Management LLC Lowers Position in Loews Co. (NYSE:L)

Nuveen Asset Management LLC lessened its holdings in Loews Co. (NYSE:L) by 3.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 389,017 shares of the insurance provider’s stock after selling 13,260 shares during the quarter. Nuveen Asset Management LLC’s holdings in Loews were worth $32,946,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Venturi Wealth Management LLC raised its stake in Loews by 10.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider’s stock valued at $105,000 after purchasing an additional 119 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in Loews by 3.2% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 3,884 shares of the insurance provider’s stock valued at $329,000 after purchasing an additional 122 shares in the last quarter. Mather Group LLC. raised its position in Loews by 7.7% during the fourth quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider’s stock valued at $190,000 after purchasing an additional 161 shares in the last quarter. Perigon Wealth Management LLC raised its position in Loews by 5.9% during the fourth quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider’s stock valued at $285,000 after purchasing an additional 183 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in Loews by 5.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 4,228 shares of the insurance provider’s stock valued at $358,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Trading Down 1.4%

L stock opened at $87.67 on Thursday. The company has a market capitalization of $18.38 billion, a PE ratio of 13.70 and a beta of 0.70. Loews Co. has a one year low of $73.15 and a one year high of $92.42. The company’s 50 day moving average price is $87.17 and its two-hundred day moving average price is $85.40. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34.

Loews (NYSE:L) last released its quarterly earnings data on Monday, May 5th. The insurance provider reported $1.74 EPS for the quarter. The firm had revenue of $4.49 billion for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. Loews’s dividend payout ratio is currently 4.11%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Loews from a “hold” rating to a “buy” rating in a research report on Tuesday, May 6th.

Insider Transactions at Loews

In related news, SVP Richard Waldo Scott sold 9,019 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $87.92, for a total transaction of $792,950.48. Following the transaction, the senior vice president now owns 33,901 shares in the company, valued at $2,980,575.92. The trade was a 21.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan M. Tisch sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total value of $4,254,000.00. Following the transaction, the director now owns 7,105,529 shares in the company, valued at approximately $604,538,407.32. This represents a 0.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 156,655 shares of company stock worth $13,323,294. Company insiders own 18.70% of the company’s stock.

Loews Company Profile

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.