Barclays PLC Acquires 66,539 Shares of Loews Co. (NYSE:L)

Barclays PLC boosted its holdings in Loews Co. (NYSE:L) by 10.0% in the third quarter, HoldingsChannel reports. The firm owned 732,115 shares of the insurance provider’s stock after purchasing an additional 66,539 shares during the period. Barclays PLC’s holdings in Loews were worth $39,484,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV increased its holdings in shares of Loews by 3.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 5,251 shares of the insurance provider’s stock valued at $287,000 after acquiring an additional 185 shares in the last quarter. LPL Financial LLC increased its holdings in shares of Loews by 2.4% during the second quarter. LPL Financial LLC now owns 8,588 shares of the insurance provider’s stock valued at $469,000 after acquiring an additional 200 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG increased its holdings in shares of Loews by 2.7% during the second quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 8,193 shares of the insurance provider’s stock valued at $448,000 after acquiring an additional 215 shares in the last quarter. Advisor Group Holdings Inc. increased its holdings in shares of Loews by 0.4% during the third quarter. Advisor Group Holdings Inc. now owns 77,170 shares of the insurance provider’s stock valued at $4,188,000 after acquiring an additional 284 shares in the last quarter. Finally, Commerce Bank boosted its position in shares of Loews by 5.6% during the third quarter. Commerce Bank now owns 6,063 shares of the insurance provider’s stock valued at $327,000 after buying an additional 319 shares during the last quarter. Hedge funds and other institutional investors own 57.92% of the company’s stock.

In other news, VP Mark S. Schwartz sold 8,759 shares of the company’s stock in a transaction on Tuesday, November 9th. The stock was sold at an average price of $57.73, for a total transaction of $505,657.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Philip A. Laskawy sold 459 shares of the company’s stock in a transaction on Wednesday, December 1st. The shares were sold at an average price of $54.69, for a total value of $25,102.71. The disclosure for this sale can be found here. In the last three months, insiders sold 14,584 shares of company stock worth $836,032. Insiders own 16.20% of the company’s stock.

Shares of NYSE:L opened at $61.63 on Friday. The stock has a market cap of $15.63 billion, a price-to-earnings ratio of 10.05 and a beta of 0.95. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.47. Loews Co. has a 12-month low of $45.11 and a 12-month high of $61.93. The business’s 50 day moving average is $57.29 and its 200 day moving average is $55.80.

Loews (NYSE:L) last announced its earnings results on Monday, November 1st. The insurance provider reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.22. The company had revenue of $3.37 billion for the quarter. Loews had a return on equity of 6.24% and a net margin of 11.10%.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 7th. Shareholders of record on Wednesday, November 24th were given a $0.0625 dividend. The ex-dividend date was Tuesday, November 23rd. This represents a $0.25 annualized dividend and a yield of 0.41%. Loews’s dividend payout ratio is currently 4.08%.

Separately, Royal Bank of Canada lifted their target price on Loews from $104.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, November 11th.

Loews Company Profile

Loews Corp. operates as a holding company, which engages in the oil and gas business. It operates through the following segments: CNA Financial, Diamond Offshore, Boardwalk Pipeline, Loews Hotels and Corporate. The CNA Financial segment offers property, casualty, insurance, and underwriting services.

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Institutional Ownership by Quarter for Loews (NYSE:L)

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