HighTower Advisors LLC Purchases 10,204 Shares of Loews Co. (NYSE:L)

HighTower Advisors LLC boosted its position in Loews Co. (NYSE:L) by 15.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,423 shares of the insurance provider’s stock after buying an additional 10,204 shares during the period. HighTower Advisors LLC’s holdings in Loews were worth $6,388,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. State Street Corp raised its holdings in Loews by 1.0% during the third 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 last quarter. Geode Capital Management LLC increased its position 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 worth $336,005,000 after acquiring an additional 53,428 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Loews by 0.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider’s stock worth $268,640,000 after acquiring an additional 8,750 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in 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 acquiring an additional 11,540 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Loews by 6.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider’s stock valued at $109,067,000 after purchasing an additional 77,386 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Loews news, Director Jonathan M. Tisch sold 50,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 7,105,529 shares of the company’s stock, valued at $604,538,407.32. This represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew H. Tisch sold 7,533 shares of Loews 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 completion of the transaction, the director now owns 1,568,191 shares of the company’s stock, valued at $132,276,910.85. The trade was a 0.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 158,860 shares of company stock valued at $13,486,463. 18.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Loews Stock Down 0.7 %

Loews stock opened at $86.83 on Wednesday. Loews Co. has a fifty-two week low of $72.91 and a fifty-two week high of $88.29. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The firm’s 50-day simple moving average is $84.93 and its 200 day simple moving average is $82.95. The stock has a market cap of $18.48 billion, a PE ratio of 13.57 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews’s payout ratio is 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.