Toronto Dominion Bank raised its holdings in Loews Co. (NYSE:L - Free Report) by 5.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,517 shares of the insurance provider's stock after buying an additional 5,039 shares during the quarter. Toronto Dominion Bank's holdings in Loews were worth $8,259,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its stake in shares of Loews by 10.6% in the 4th quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider's stock valued at $105,000 after purchasing an additional 119 shares in the last quarter. Gilder Gagnon Howe & Co. LLC lifted its stake in shares of Loews by 3.2% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 3,884 shares of the insurance provider's stock valued at $329,000 after purchasing an additional 122 shares in the last quarter. Mather Group LLC. lifted its stake in shares of Loews by 7.7% in the 4th quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider's stock valued at $190,000 after purchasing an additional 161 shares in the last quarter. Perigon Wealth Management LLC lifted its stake 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. Finally, Tevis Investment Management lifted its stake in shares of Loews by 0.7% in the 4th quarter. Tevis Investment Management now owns 33,345 shares of the insurance provider's stock valued at $2,824,000 after purchasing an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company's stock.
Insider Buying and Selling
In other Loews news, Director Jonathan M. Tisch sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $84.66, for a total value of $4,233,000.00. Following the transaction, the director now directly owns 6,755,529 shares of the company's stock, valued at $571,923,085.14. This represents a 0.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Richard Waldo Scott sold 9,019 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $87.92, for a total value of $792,950.48. Following the completion of the transaction, the senior vice president now directly owns 33,901 shares in the company, valued at approximately $2,980,575.92. The trade was 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 have sold 106,655 shares of company stock valued at $9,069,294. Corporate insiders own 19.00% of the company's stock.
Analyst Ratings Changes
Separately, Wall Street Zen raised Loews from a "hold" rating to a "buy" rating in a research note on Tuesday, May 6th.
Check Out Our Latest Research Report on Loews
Loews Stock Up 0.6%
Loews stock traded up $0.50 during midday trading on Friday, hitting $89.21. 1,596,589 shares of the company were exchanged, compared to its average volume of 726,163. The company's fifty day moving average price is $87.24 and its 200-day moving average price is $85.76. The company has a market cap of $18.71 billion, a PE ratio of 13.94 and a beta of 0.70. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. Loews Co. has a fifty-two week low of $73.15 and a fifty-two week high of $92.42.
Loews (NYSE:L - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The insurance provider reported $1.74 EPS for the quarter. The firm had revenue of $4.49 billion for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.
Loews Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend is Wednesday, May 28th. Loews's dividend payout ratio (DPR) is presently 4.11%.
Loews Profile
(
Free Report)
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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