Loews Co. (NYSE:L) Stock Holdings Reduced by Wells Fargo & Company MN

Wells Fargo & Company MN reduced its position in Loews Co. (NYSE:L) by 39.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 138,265 shares of the insurance provider’s stock after selling 91,120 shares during the quarter. Wells Fargo & Company MN’s holdings in Loews were worth $11,710,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC bought a new position in Loews during the fourth quarter valued at about $26,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Loews during the 3rd quarter valued at about $49,000. Human Investing LLC bought a new position in shares of Loews in the 4th quarter valued at approximately $51,000. Graney & King LLC acquired a new stake in Loews in the 4th quarter worth approximately $56,000. Finally, Intact Investment Management Inc. bought a new stake in Loews during the fourth quarter worth approximately $68,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity at Loews

In other news, Director Jonathan M. Tisch sold 3,691 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total transaction of $320,710.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan M. Tisch sold 50,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $84.66, for a total value of $4,233,000.00. Following the completion of the transaction, the director now owns 6,755,529 shares of the company’s stock, valued at $571,923,085.14. The trade was a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 151,327 shares of company stock worth $12,851,055 in the last ninety days. 18.70% of the stock is currently owned by insiders.

Loews Stock Down 0.2 %

L stock opened at $86.14 on Wednesday. The stock has a market capitalization of $18.12 billion, a price-to-earnings ratio of 13.46 and a beta of 0.60. The company has a 50-day moving average of $85.94 and a two-hundred day moving average of $84.11. Loews Co. has a 52-week low of $72.91 and a 52-week high of $92.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34.

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

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date was Wednesday, February 26th. Loews’s dividend payout ratio (DPR) is currently 3.91%.

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.