Schwerin Boyle Capital Management Inc. Decreases Position in Loews Co. (NYSE:L)

Schwerin Boyle Capital Management Inc. reduced its stake in shares of Loews Co. (NYSE:L) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 229,275 shares of the insurance provider’s stock after selling 900 shares during the quarter. Loews accounts for approximately 2.0% of Schwerin Boyle Capital Management Inc.’s portfolio, making the stock its 15th largest holding. Schwerin Boyle Capital Management Inc. owned about 0.11% of Loews worth $19,417,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Loews in the fourth quarter valued at about $623,493,000. Geode Capital Management LLC raised its position in Loews by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider’s stock valued at $378,087,000 after purchasing an additional 210,594 shares during the last quarter. Invesco Ltd. lifted its holdings in Loews by 0.8% in the 4th quarter. Invesco Ltd. now owns 4,462,387 shares of the insurance provider’s stock worth $377,920,000 after buying an additional 33,428 shares during the period. Allspring Global Investments Holdings LLC grew its position 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 buying an additional 8,750 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Loews by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,623,291 shares of the insurance provider’s stock valued at $137,477,000 after buying an additional 11,540 shares during the period. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Loews

In other news, Director Jonathan M. Tisch sold 3,691 shares of Loews stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan M. Tisch sold 47,636 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the sale, the director now directly owns 6,705,529 shares in the company, valued at $569,165,301.52. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 151,327 shares of company stock valued at $12,851,055 in the last three months. Company insiders own 18.70% of the company’s stock.

Loews Price Performance

L stock opened at $86.35 on Tuesday. The firm has a 50-day moving average of $85.95 and a 200 day moving average of $84.10. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The company has a market cap of $18.16 billion, a P/E ratio of 13.49 and a beta of 0.60. Loews Co. has a 1 year low of $72.91 and a 1 year high of $92.42.

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

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a $0.0625 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. 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.