Minot DeBlois Advisors LLC Acquires New Stake in Loews Co. (NYSE:L)

Minot DeBlois Advisors LLC bought a new position in Loews Co. (NYSE:L) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 320 shares of the insurance provider’s stock, valued at approximately $27,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Loews in the 4th quarter worth about $623,493,000. Geode Capital Management LLC boosted its position in Loews by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider’s stock worth $378,087,000 after acquiring an additional 210,594 shares during the period. Invesco Ltd. boosted its position in Loews by 0.8% during the 4th quarter. Invesco Ltd. now owns 4,462,387 shares of the insurance provider’s stock worth $377,920,000 after acquiring an additional 33,428 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Loews by 0.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider’s stock valued at $268,640,000 after acquiring an additional 8,750 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Loews by 2.6% in the 4th quarter. Northern Trust Corp now owns 2,097,608 shares of the insurance provider’s stock valued at $177,646,000 after purchasing an additional 53,625 shares during the period. 58.33% of the stock is owned by institutional investors.

Insider Buying and Selling at Loews

In related news, Director Jonathan M. Tisch sold 50,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total value 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. This represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Richard Waldo Scott sold 9,019 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $87.92, for a total value of $792,950.48. Following the completion of the transaction, the senior vice president now directly owns 33,901 shares in the company, valued at $2,980,575.92. The trade was a 21.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,655 shares of company stock worth $13,323,294 over the last ninety days. Corporate insiders own 19.00% of the company’s stock.

Loews Price Performance

NYSE:L opened at $88.60 on Wednesday. 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 Co. has a one year low of $73.15 and a one year high of $92.42. The company has a fifty day moving average price of $86.75 and a 200 day moving average price of $85.08. The stock has a market cap of $18.58 billion, a P/E ratio of 13.84 and a beta of 0.70.

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

Loews Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.28%. Loews’s dividend payout ratio is currently 4.11%.

Analyst Ratings Changes

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

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.