Loews Co. (NYSE:L) Stake Lowered by Truist Financial Corp

Truist Financial Corp trimmed its position in shares of Loews Co. (NYSE:L) by 7.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,515 shares of the insurance provider’s stock after selling 296 shares during the quarter. Truist Financial Corp’s holdings in Loews were worth $298,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its position in Loews by 26.4% in the third quarter. Janney Montgomery Scott LLC now owns 27,462 shares of the insurance provider’s stock worth $2,171,000 after acquiring an additional 5,742 shares in the last quarter. National Pension Service lifted its stake in shares of Loews by 6.0% in the 3rd quarter. National Pension Service now owns 369,682 shares of the insurance provider’s stock valued at $29,223,000 after purchasing an additional 21,038 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Loews by 3.0% in the third quarter. Principal Financial Group Inc. now owns 248,665 shares of the insurance provider’s stock worth $19,657,000 after purchasing an additional 7,149 shares in the last quarter. Axxcess Wealth Management LLC acquired a new position in Loews during the third quarter worth $204,000. Finally, Colonial River Investments LLC bought a new position in Loews during the third quarter valued at about $204,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Trading Up 0.4 %

NYSE:L opened at $85.40 on Thursday. The company’s 50 day moving average is $84.69 and its 200-day moving average is $82.60. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a 12 month low of $72.91 and a 12 month high of $88.29. The firm has a market cap of $18.18 billion, a price-to-earnings ratio of 13.34 and a beta of 0.83.

Loews (NYSE:L) last announced its earnings results on Monday, February 10th. The insurance provider reported $0.86 EPS for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th will be issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend is Wednesday, February 26th. Loews’s dividend payout ratio (DPR) is currently 3.91%.

Analyst Ratings Changes

Separately, StockNews.com lowered Loews from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th.

Insiders Place Their Bets

In related news, Director Jonathan M. Tisch sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the transaction, the director now directly owns 7,105,529 shares in the company, valued at $604,538,407.32. The trade was a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andrew H. Tisch sold 7,533 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total value of $635,408.55. Following the completion of the sale, the director now 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. Insiders have sold a total of 61,224 shares of company stock valued at $5,210,120 in the last three months. Company insiders own 18.70% of the company’s stock.

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.