PNC Financial Services Group Inc. Reduces Stock Holdings in Loews Corporation $L

PNC Financial Services Group Inc. reduced its position in Loews Corporation (NYSE:L) by 10.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,039 shares of the insurance provider’s stock after selling 4,592 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Loews were worth $3,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. SJS Investment Consulting Inc. grew its stake in shares of Loews by 880.8% during the 3rd quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 229 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in Loews during the second quarter valued at about $27,000. NewSquare Capital LLC boosted its position in Loews by 404.1% during the second quarter. NewSquare Capital LLC now owns 368 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 295 shares during the period. Westside Investment Management Inc. increased its stake in shares of Loews by 100.0% in the third quarter. Westside Investment Management Inc. now owns 370 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 185 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its stake in shares of Loews by 14,900.0% in the second quarter. Hantz Financial Services Inc. now owns 450 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 447 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Trading Up 1.3%

Shares of Loews stock opened at $109.76 on Friday. The company’s 50-day moving average price is $106.08 and its 200-day moving average price is $102.09. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. Loews Corporation has a 12-month low of $78.98 and a 12-month high of $114.90. The company has a market cap of $22.62 billion, a price-to-earnings ratio of 13.75 and a beta of 0.61.

Loews (NYSE:L) last posted its earnings results on Monday, February 9th. The insurance provider reported $1.94 earnings per share for the quarter. Loews had a net margin of 9.03% and a return on equity of 8.86%. The business had revenue of $4.73 billion for the quarter.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th will be given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Wednesday, February 25th. Loews’s dividend payout ratio (DPR) is 3.13%.

Insider Buying and Selling at Loews

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $110.27, for a total value of $5,513,500.00. Following the transaction, the director directly owned 12,859,642 shares in the company, valued at $1,418,032,723.34. This represents a 0.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann E. Berman sold 1,922 shares of Loews stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $110.16, for a total value of $211,727.52. Following the sale, the director owned 4,998 shares of the company’s stock, valued at approximately $550,579.68. This trade represents a 27.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 181,187 shares of company stock valued at $19,435,041 over the last 90 days. Insiders own 19.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company has a consensus rating of “Strong Buy”.

Loews Company Profile

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.