Mizuho Securities USA LLC Boosts Holdings in Loews Co. (NYSE:L)

Mizuho Securities USA LLC boosted its stake in Loews Co. (NYSE:L) by 45.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 17,131 shares of the insurance provider’s stock after purchasing an additional 5,316 shares during the period. Mizuho Securities USA LLC’s holdings in Loews were worth $1,451,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Loews by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock worth $127,409,000 after acquiring an additional 8,615 shares during the period. Miracle Mile Advisors LLC bought a new position in Loews during the fourth quarter worth about $315,000. Swedbank AB increased its stake in shares of Loews by 8.8% in the third quarter. Swedbank AB now owns 379,647 shares of the insurance provider’s stock worth $30,011,000 after purchasing an additional 30,600 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Loews by 47.8% in the third quarter. PNC Financial Services Group Inc. now owns 37,319 shares of the insurance provider’s stock valued at $2,950,000 after purchasing an additional 12,070 shares during the period. Finally, Nordea Investment Management AB lifted its stake in shares of Loews by 7.5% during the 4th quarter. Nordea Investment Management AB now owns 15,619 shares of the insurance provider’s stock valued at $1,323,000 after buying an additional 1,085 shares in the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Loews Stock Performance

Shares of L opened at $89.17 on Wednesday. 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 stock has a market capitalization of $18.98 billion, a price-to-earnings ratio of 13.93 and a beta of 0.80. Loews Co. has a 52-week low of $72.91 and a 52-week high of $89.67. The stock’s 50-day simple moving average is $85.47 and its 200 day simple moving average is $83.19.

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

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 issued a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.25 annualized dividend and a dividend yield of 0.28%. Loews’s payout ratio is currently 3.91%.

Insider Buying and Selling

In related news, Director Jonathan M. Tisch sold 3,691 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jonathan M. Tisch sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the completion of the transaction, the director now directly owns 7,105,529 shares of the company’s stock, valued at approximately $604,538,407.32. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 158,860 shares of company stock worth $13,486,463. Corporate insiders own 18.70% of the company’s stock.

Analyst Ratings Changes

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

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.