LSV Asset Management Sells 9,800 Shares of Loews Co. (NYSE:L)

LSV Asset Management reduced its stake in shares of Loews Co. (NYSE:L) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,100 shares of the insurance provider’s stock after selling 9,800 shares during the period. LSV Asset Management owned 0.07% of Loews worth $12,119,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Loews in the fourth quarter valued at about $26,000. Wilmington Savings Fund Society FSB purchased a new position in Loews in the 3rd quarter worth approximately $49,000. Human Investing LLC bought a new position in Loews in the 4th quarter worth approximately $51,000. Graney & King LLC purchased a new stake in Loews during the 4th quarter valued at approximately $56,000. Finally, Intact Investment Management Inc. bought a new stake in shares of Loews during the fourth quarter valued at approximately $68,000. 58.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Loews Trading Up 0.3 %

L stock opened at $84.61 on Friday. The firm has a market cap of $17.80 billion, a PE ratio of 13.22 and a beta of 0.60. The firm has a fifty day moving average price of $85.95 and a 200 day moving average price of $84.01. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. Loews Co. has a fifty-two week low of $72.91 and a fifty-two week high of $92.42.

Loews (NYSE:L) last posted its 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.30%. The ex-dividend date was Wednesday, February 26th. Loews’s payout ratio is 3.91%.

Insider Transactions at Loews

In related news, Director Jonathan M. Tisch sold 50,000 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $84.66, for a total transaction of $4,233,000.00. Following the transaction, the director now directly owns 6,755,529 shares in the company, valued at approximately $571,923,085.14. This represents a 0.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jonathan M. Tisch sold 3,691 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $86.89, for a total transaction of $320,710.99. The disclosure for this sale can be found here. In the last 90 days, insiders sold 151,327 shares of company stock worth $12,851,055. 18.70% of the stock is currently owned by company insiders.

About Loews

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.