Stifel Financial Corp Lowers Position in Loews Co. (NYSE:L)

Stifel Financial Corp trimmed its holdings in shares of Loews Co. (NYSE:L) by 30.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,376 shares of the insurance provider’s stock after selling 2,774 shares during the period. Stifel Financial Corp’s holdings in Loews were worth $540,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Loews during the 4th quarter valued at about $623,493,000. Geode Capital Management LLC grew its position in Loews by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider’s stock valued at $378,087,000 after acquiring an additional 210,594 shares during the last quarter. Invesco Ltd. grew its position in Loews by 0.8% during the fourth quarter. Invesco Ltd. now owns 4,462,387 shares of the insurance provider’s stock valued at $377,920,000 after acquiring an additional 33,428 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Loews by 0.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider’s stock worth $268,640,000 after acquiring an additional 8,750 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Loews by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,623,291 shares of the insurance provider’s stock worth $137,477,000 after acquiring an additional 11,540 shares during the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Loews

In related news, SVP Richard Waldo Scott sold 9,019 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $87.92, for a total transaction of $792,950.48. Following the completion of the transaction, the senior vice president now owns 33,901 shares in the company, valued at $2,980,575.92. This represents a 21.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan M. Tisch sold 50,000 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $85.08, for a total value of $4,254,000.00. Following the completion of the sale, the director now directly owns 7,105,529 shares of the company’s stock, valued at $604,538,407.32. The trade was a 0.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 156,655 shares of company stock worth $13,323,294 in the last three months. 19.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Loews Stock Up 0.5%

L opened at $88.38 on Monday. Loews Co. has a 12 month low of $73.15 and a 12 month high of $92.42. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The business’s 50-day moving average price is $86.60 and its 200-day moving average price is $84.99. The company has a market cap of $18.53 billion, a P/E ratio of 13.81 and a beta of 0.70.

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

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews’s payout ratio is 4.11%.

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.