Loews Co. (NYSE:L) Shares Sold by Comerica Bank

Comerica Bank reduced its holdings in shares of Loews Co. (NYSE:L) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,690 shares of the insurance provider’s stock after selling 2,167 shares during the period. Comerica Bank’s holdings in Loews were worth $2,769,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of L. Venturi Wealth Management LLC lifted its stake in Loews by 10.6% during the fourth quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider’s stock worth $105,000 after purchasing an additional 119 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its stake in shares of Loews by 3.2% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 3,884 shares of the insurance provider’s stock worth $329,000 after acquiring an additional 122 shares during the period. Wedmont Private Capital increased its position in Loews by 5.2% during the 4th quarter. Wedmont Private Capital now owns 3,065 shares of the insurance provider’s stock worth $249,000 after purchasing an additional 151 shares during the period. Mather Group LLC. raised its position in Loews by 7.7% in the fourth quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider’s stock worth $190,000 after acquiring an additional 161 shares in the last quarter. Finally, Perigon Wealth Management LLC increased its holdings in shares of Loews by 5.9% in the 4th quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider’s stock valued at $285,000 after purchasing an additional 183 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Trading Up 0.1 %

Shares of L stock opened at $87.94 on Friday. The firm has a 50-day moving average price of $86.54 and a 200 day moving average price of $84.88. 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 company has a market capitalization of $18.50 billion, a price-to-earnings ratio of 13.74 and a beta of 0.70. Loews Co. has a twelve month low of $73.15 and a twelve month high of $92.42.

Loews (NYSE:L) last released its earnings results on Monday, May 5th. The insurance provider reported $1.74 EPS for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%. The firm had revenue of $4.49 billion during the quarter.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders 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 yield of 0.28%. The ex-dividend date was Wednesday, February 26th. Loews’s dividend payout ratio (DPR) is presently 3.91%.

Insider Transactions at Loews

In other Loews news, Director Jonathan M. Tisch sold 50,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total value 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 $604,538,407.32. This represents a 0.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 147,636 shares of company stock worth $12,530,344. 19.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Loews from a “hold” rating to a “buy” rating in a research report on Tuesday.

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.