Man Group plc Has $2.44 Million Stock Holdings in Loews Co. (NYSE:L)

Man Group plc lessened its stake in shares of Loews Co. (NYSE:L - Free Report) by 60.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 28,854 shares of the insurance provider's stock after selling 44,974 shares during the quarter. Man Group plc's holdings in Loews were worth $2,444,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new stake in Loews in the 4th quarter worth about $623,493,000. Geode Capital Management LLC raised its stake in Loews by 4.9% in 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 in the last quarter. Invesco Ltd. raised its stake 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 purchasing an additional 33,428 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in 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 purchasing an additional 8,750 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Loews by 2.6% in 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. Institutional investors and hedge funds own 58.33% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Loews from a "hold" rating to a "buy" rating in a research note on Tuesday, May 6th.

Insider Activity

In related news, Director Jonathan M. Tisch sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $84.66, for a total transaction of $4,233,000.00. Following the completion of the transaction, the director now directly owns 6,755,529 shares in the company, valued at $571,923,085.14. This represents a 0.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Richard Waldo Scott sold 9,019 shares of the company'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 transaction, the senior vice president now owns 33,901 shares of the company's stock, valued at approximately $2,980,575.92. This represents a 21.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 156,655 shares of company stock worth $13,323,294. 18.70% of the stock is currently owned by corporate insiders.

Loews Price Performance

Shares of NYSE:L opened at $87.51 on Friday. The firm has a 50 day moving average of $87.18 and a 200-day moving average of $85.48. The stock has a market capitalization of $18.35 billion, a PE ratio of 13.67 and a beta of 0.70. 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 12 month low of $73.15 and a 12 month high of $92.42.

Loews (NYSE:L - Get Free Report) last issued its earnings results on Monday, May 5th. The insurance provider reported $1.74 EPS for the quarter. The company 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 announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be given a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Wednesday, May 28th. Loews's payout ratio is presently 4.11%.

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.

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