Greenleaf Trust Boosts Stock Holdings in Loews Co. (NYSE:L)

Greenleaf Trust raised its holdings in shares of Loews Co. (NYSE:L) by 3.6% during the fourth quarter, HoldingsChannel reports. The firm owned 9,320 shares of the insurance provider’s stock after purchasing an additional 326 shares during the period. Greenleaf Trust’s holdings in Loews were worth $649,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its position in Loews by 0.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,255,282 shares of the insurance provider’s stock valued at $206,092,000 after purchasing an additional 20,277 shares during the period. Northern Trust Corp increased its position in Loews by 6.3% during the 3rd quarter. Northern Trust Corp now owns 2,236,376 shares of the insurance provider’s stock valued at $141,585,000 after purchasing an additional 131,736 shares during the period. Royal Bank of Canada increased its position in Loews by 2.6% during the 3rd quarter. Royal Bank of Canada now owns 935,189 shares of the insurance provider’s stock valued at $59,207,000 after purchasing an additional 23,756 shares during the period. Assenagon Asset Management S.A. increased its position in Loews by 316.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 580,107 shares of the insurance provider’s stock valued at $36,727,000 after purchasing an additional 440,693 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Loews by 34.9% in the 3rd quarter. Barclays PLC now owns 577,591 shares of the insurance provider’s stock valued at $36,568,000 after buying an additional 149,500 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling

In related news, Director Paul J. Fribourg sold 951 shares of Loews stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $75.02, for a total value of $71,344.02. Following the completion of the sale, the director now directly owns 21,200 shares in the company, valued at approximately $1,590,424. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Loews news, SVP Richard Waldo Scott sold 7,325 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $74.12, for a total transaction of $542,929.00. Following the completion of the transaction, the senior vice president now directly owns 51,965 shares of the company’s stock, valued at approximately $3,851,645.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul J. Fribourg sold 951 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $75.02, for a total transaction of $71,344.02. Following the transaction, the director now directly owns 21,200 shares of the company’s stock, valued at $1,590,424. The disclosure for this sale can be found here. Insiders sold 137,563 shares of company stock worth $10,052,551 in the last three months. Corporate insiders own 18.70% of the company’s stock.

Loews Stock Up 1.1 %

NYSE:L opened at $76.48 on Tuesday. Loews Co. has a fifty-two week low of $55.31 and a fifty-two week high of $78.55. The stock has a market capitalization of $16.99 billion, a P/E ratio of 12.14 and a beta of 0.83. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.32 and a current ratio of 0.32. The company’s 50-day simple moving average is $75.55 and its 200-day simple moving average is $71.01.

Loews (NYSE:L) last released its quarterly earnings results on Monday, February 5th. The insurance provider reported $1.99 earnings per share for the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%. The business had revenue of $4.26 billion for the quarter.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Wednesday, February 21st were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend was Tuesday, February 20th. Loews’s dividend payout ratio (DPR) is presently 3.97%.

About Loews

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.