9,270 Shares in Loews Co. (NYSE:L) Bought by Allstate Corp

Allstate Corp purchased a new stake in Loews Co. (NYSE:L) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 9,270 shares of the insurance provider’s stock, valued at approximately $785,000.

Other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its position in shares of Loews by 1.0% during the 3rd quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock worth $638,506,000 after buying an additional 82,581 shares during the period. Norges Bank acquired a new position in Loews during the fourth quarter worth $623,493,000. Geode Capital Management LLC lifted its holdings in shares of Loews by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider’s stock valued at $336,005,000 after acquiring an additional 53,428 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings 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 valued at $268,640,000 after acquiring an additional 8,750 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake 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 valued at $137,477,000 after purchasing an additional 11,540 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Trading Up 1.4 %

L stock opened at $91.95 on Tuesday. The business has a fifty day moving average price of $85.89 and a 200 day moving average price of $83.54. 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 fifty-two week low of $72.91 and a fifty-two week high of $92.35. The stock has a market capitalization of $19.57 billion, a price-to-earnings ratio of 14.37 and a beta of 0.80.

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 declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews’s dividend payout ratio is currently 3.91%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, Director Jonathan M. Tisch sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jonathan M. Tisch sold 3,691 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total transaction of $320,710.99. The disclosure for this sale can be found here. Insiders sold 158,860 shares of company stock worth $13,486,463 in the last quarter. Insiders own 18.70% of the company’s stock.

Loews Profile

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.