PGGM Investments Reduces Position in Loews Co. (NYSE:L)

PGGM Investments lessened its stake in Loews Co. (NYSE:L) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 165,555 shares of the insurance provider’s stock after selling 5,737 shares during the period. PGGM Investments owned approximately 0.08% of Loews worth $14,021,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Loews in the fourth quarter worth approximately $26,000. Brooklyn Investment Group bought a new stake in shares of Loews during the 3rd quarter valued at $40,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Loews in the third quarter valued at about $49,000. Human Investing LLC bought a new position in Loews in the 4th quarter worth approximately $51,000. Finally, Assetmark Inc. boosted its holdings in shares of Loews by 117.2% during the 4th quarter. Assetmark Inc. now owns 832 shares of the insurance provider’s stock valued at $70,000 after purchasing an additional 449 shares during the last quarter. 58.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Loews Stock Performance

L stock opened at $83.99 on Thursday. The firm has a market cap of $17.88 billion, a price-to-earnings ratio of 13.12 and a beta of 0.80. Loews Co. has a twelve month low of $72.91 and a twelve month high of $88.29. The business’s fifty day simple moving average is $84.70 and its two-hundred day simple moving average is $82.79. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50.

Loews (NYSE:L) last released its quarterly earnings data 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders 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 yield of 0.30%. Loews’s dividend payout ratio (DPR) is 3.91%.

Insider Transactions at Loews

In related news, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew H. Tisch sold 7,533 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total value of $635,408.55. Following the completion of the sale, the director now owns 1,568,191 shares in the company, valued at approximately $132,276,910.85. This represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,224 shares of company stock valued at $5,210,120. Corporate insiders own 18.70% of the company’s stock.

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.