iA Global Asset Management Inc. Grows Stock Position in Loews Co. (NYSE:L)

iA Global Asset Management Inc. boosted its stake in shares of Loews Co. (NYSE:L) by 16.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,360 shares of the insurance provider’s stock after buying an additional 740 shares during the period. iA Global Asset Management Inc.’s holdings in Loews were worth $454,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Empowered Funds LLC increased its stake in Loews by 7.2% in the third quarter. Empowered Funds LLC now owns 2,990 shares of the insurance provider’s stock worth $236,000 after purchasing an additional 200 shares during the period. Natixis Advisors LLC increased its stake in Loews by 5.6% in the third quarter. Natixis Advisors LLC now owns 68,620 shares of the insurance provider’s stock worth $5,424,000 after purchasing an additional 3,612 shares during the period. Quest Partners LLC purchased a new stake in Loews in the third quarter worth $129,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Loews in the third quarter worth $399,000. Finally, PNC Financial Services Group Inc. increased its stake in Loews by 47.8% in the third quarter. PNC Financial Services Group Inc. now owns 37,319 shares of the insurance provider’s stock worth $2,950,000 after purchasing an additional 12,070 shares during the period. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Insider Transactions at Loews

In related news, Director Jonathan M. Tisch sold 47,636 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the sale, the director now owns 6,705,529 shares of the company’s stock, valued at $569,165,301.52. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan M. Tisch sold 3,691 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 158,860 shares of company stock valued at $13,486,463. 18.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Loews Price Performance

L opened at $87.22 on Friday. Loews Co. has a 12-month low of $72.91 and a 12-month high of $88.66. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The business’s fifty day simple moving average is $85.23 and its 200-day simple moving average is $83.06. The company has a market capitalization of $18.57 billion, a price-to-earnings ratio of 13.63 and a beta of 0.80.

Loews (NYSE:L) last posted its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given 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 was Wednesday, February 26th. Loews’s payout ratio is 3.91%.

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.