ProShare Advisors LLC Has $4.78 Million Stake in Loews Co. (NYSE:L)

ProShare Advisors LLC raised its position in Loews Co. (NYSE:L - Free Report) by 5.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,480 shares of the insurance provider's stock after buying an additional 2,988 shares during the quarter. ProShare Advisors LLC's holdings in Loews were worth $4,783,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Loews in the fourth quarter worth about $623,493,000. Geode Capital Management LLC increased its position in 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 in the last quarter. Invesco Ltd. lifted 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 valued at $377,920,000 after purchasing an additional 33,428 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Loews by 0.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider's stock valued at $268,640,000 after buying an additional 8,750 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Loews by 2.6% in the fourth quarter. Northern Trust Corp now owns 2,097,608 shares of the insurance provider's stock valued at $177,646,000 after buying an additional 53,625 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Loews

In related news, Director Jonathan M. Tisch sold 50,000 shares of Loews stock in a transaction 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 owns 6,755,529 shares of the company's stock, valued at $571,923,085.14. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard Waldo Scott sold 9,019 shares of the company's stock in a transaction on Thursday, May 8th. The shares were 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 in the company, valued at $2,980,575.92. This trade represents a 21.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 156,655 shares of company stock worth $13,323,294 over the last three months. Company insiders own 19.00% of the company's stock.

Loews Stock Performance

NYSE:L opened at $89.39 on Tuesday. The stock's 50-day moving average is $87.07 and its 200-day moving average is $85.36. Loews Co. has a 1-year low of $73.15 and a 1-year high of $92.42. 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 stock has a market cap of $18.74 billion, a P/E ratio of 13.97 and a beta of 0.70.

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

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be issued a $0.0625 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $0.25 dividend on an annualized basis and a yield of 0.28%. Loews's payout ratio is 4.11%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Loews from a "hold" rating to a "buy" rating in a research note on Tuesday, May 6th.

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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