Loews Co. (NYSE:L) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC cut its holdings in shares of Loews Co. (NYSE:L - Free Report) by 61.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,475 shares of the insurance provider's stock after selling 13,789 shares during the quarter. Cresset Asset Management LLC's holdings in Loews were worth $718,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in L. Norges Bank acquired a new stake in Loews during the fourth quarter worth about $623,493,000. Geode Capital Management LLC grew its holdings in shares of Loews by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider's stock worth $378,087,000 after purchasing an additional 210,594 shares during the period. Invesco Ltd. grew its holdings in shares of Loews by 0.8% during the 4th quarter. Invesco Ltd. now owns 4,462,387 shares of the insurance provider's stock worth $377,920,000 after purchasing an additional 33,428 shares during the period. Allspring Global Investments Holdings LLC increased its position in Loews by 0.3% during 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 purchasing an additional 8,750 shares in the last quarter. Finally, Northern Trust Corp increased its position in Loews by 2.6% during the 4th quarter. Northern Trust Corp now owns 2,097,608 shares of the insurance provider's stock worth $177,646,000 after purchasing an additional 53,625 shares in the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Loews

In other news, Director Jonathan M. Tisch sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the completion of the sale, the director now owns 7,105,529 shares of the company's stock, valued at approximately $604,538,407.32. This trade represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Richard Waldo Scott sold 9,019 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $87.92, for a total transaction of $792,950.48. Following the sale, the senior vice president now directly owns 33,901 shares of the company's stock, valued at $2,980,575.92. The trade was a 21.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 156,655 shares of company stock valued at $13,323,294 over the last 90 days. 19.00% of the stock is owned by corporate insiders.

Loews Trading Up 0.6%

L traded up $0.56 on Friday, reaching $89.37. 692,951 shares of the company's stock were exchanged, compared to its average volume of 730,241. The company's 50 day moving average is $86.96 and its 200-day moving average is $85.22. The company has a market cap of $18.74 billion, a price-to-earnings ratio of 13.96 and a beta of 0.70. Loews Co. has a twelve month low of $73.15 and a twelve month high of $92.42. 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 (NYSE:L - Get Free Report) last posted its earnings results on Monday, May 5th. The insurance provider reported $1.74 earnings per share (EPS) for the quarter. The firm had revenue of $4.49 billion during the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.28%. The ex-dividend date is Wednesday, May 28th. Loews's dividend payout ratio (DPR) is 4.11%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Loews from a "hold" rating to a "buy" rating in a research report on Tuesday, May 6th.

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.