Canada Pension Plan Investment Board Purchases 49,000 Shares of Loews Co. (NYSE:L)

Canada Pension Plan Investment Board raised its position in Loews Co. (NYSE:L - Free Report) by 25.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 243,677 shares of the insurance provider's stock after purchasing an additional 49,000 shares during the quarter. Canada Pension Plan Investment Board owned about 0.11% of Loews worth $20,637,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in L. Miracle Mile Advisors LLC bought a new position in shares of Loews during the 4th quarter valued at about $315,000. Nordea Investment Management AB lifted its holdings 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 during the last quarter. Bank of New York Mellon Corp grew its position in Loews by 6.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider's stock worth $109,067,000 after acquiring an additional 77,386 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Loews in the fourth quarter worth $440,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Loews during the 4th quarter valued at about $425,000. Institutional investors and hedge funds own 58.33% of the company's stock.

Insider Transactions at Loews

In other news, Director Jonathan M. Tisch sold 50,000 shares of Loews stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $84.66, for a total value of $4,233,000.00. Following the completion of the transaction, the director now owns 6,755,529 shares in the company, valued at approximately $571,923,085.14. The trade was a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jonathan M. Tisch sold 3,691 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 151,327 shares of company stock valued at $12,851,055. Corporate insiders own 18.70% of the company's stock.

Loews Stock Performance

L traded down $1.22 on Friday, hitting $85.02. 87,889 shares of the stock traded hands, compared to its average volume of 731,014. The business has a fifty day moving average price of $86.08 and a two-hundred day moving average price of $84.40. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a 52 week low of $73.15 and a 52 week high of $92.42. The firm has a market capitalization of $17.88 billion, a PE ratio of 13.28 and a beta of 0.60.

Loews (NYSE:L - Get Free Report) last issued 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 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. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. Loews's dividend payout ratio is currently 3.91%.

Wall Street Analysts Forecast Growth

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

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.