By otakuyassine3@gmail.com 
PNC Financial Services Group Inc. grew its stake in Loews Co. (NYSE:L – Free Report) by 7.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 40,271 shares of the insurance provider’s stock after acquiring an additional 2,952 shares during the period. PNC Financial Services Group Inc.’s holdings in Loews were worth $3,411,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the business. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Loews in the 4th quarter valued at $26,000. Brooklyn Investment Group acquired a new position in shares of Loews in the 3rd quarter valued at $40,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Loews in the 3rd quarter valued at $49,000. Human Investing LLC acquired a new position in shares of Loews in the 4th quarter valued at $51,000. Finally, Assetmark Inc. boosted its holdings in shares of Loews by 117.2% in the 4th quarter. Assetmark Inc. now owns 832 shares of the insurance provider’s stock valued at $70,000 after buying an additional 449 shares in the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other Loews news, Director Andrew H. Tisch sold 7,533 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $84.35, for a total transaction of $635,408.55. Following the sale, the director now owns 1,568,191 shares in the company, valued at approximately $132,276,910.85. The trade was a 0.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan M. Tisch sold 50,000 shares of Loews stock in a transaction dated 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 approximately $604,538,407.32. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 158,860 shares of company stock valued at $13,486,463. 18.70% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Separately, StockNews.com cut shares of Loews from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.
View Our Latest Stock Analysis on L
Loews Price Performance
Loews stock opened at $84.60 on Friday. Loews Co. has a 12-month low of $72.91 and a 12-month high of $88.29. The stock has a market capitalization of $18.01 billion, a P/E ratio of 13.22 and a beta of 0.80. The firm’s 50-day moving average is $84.70 and its two-hundred day moving average is $82.80. 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 (NYSE:L – Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.
Loews Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date was Wednesday, February 26th. Loews’s dividend payout ratio is presently 3.91%.
Loews Company 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.
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