UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 207,568 Shares of Loews Co. (NYSE:L)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Loews Co. (NYSE:L - Free Report) by 17.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,423,409 shares of the insurance provider's stock after purchasing an additional 207,568 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.65% of Loews worth $120,549,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Bank of New York Mellon Corp increased its stake in Loews by 6.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider's stock valued at $109,067,000 after buying an additional 77,386 shares during the period. Fidelis Capital Partners LLC purchased a new position in shares of Loews during the 4th quarter valued at $440,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Loews in the fourth quarter worth $425,000. Steward Partners Investment Advisory LLC increased its stake in shares of Loews by 13.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,433 shares of the insurance provider's stock worth $206,000 after acquiring an additional 288 shares during the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of Loews by 14.8% during the fourth quarter. Prudential Financial Inc. now owns 162,256 shares of the insurance provider's stock worth $13,741,000 after acquiring an additional 20,874 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company's stock.

Insider Buying and Selling

In related news, SVP Richard Waldo Scott sold 9,019 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $87.92, for a total transaction of $792,950.48. Following the completion of the transaction, the senior vice president now owns 33,901 shares of the company's stock, valued at approximately $2,980,575.92. The trade was a 21.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan M. Tisch sold 47,636 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $84.88, for a total value of $4,043,343.68. Following the completion of the sale, the director now directly owns 6,705,529 shares in the company, valued at $569,165,301.52. This trade represents a 0.71% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 106,655 shares of company stock worth $9,069,294. 19.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Loews Stock Down 1.1%

L stock traded down $1.02 during trading hours on Wednesday, hitting $87.99. The company's stock had a trading volume of 755,147 shares, compared to its average volume of 729,259. The stock has a 50 day moving average price of $87.22 and a two-hundred day moving average price of $85.65. Loews Co. has a 12 month low of $73.15 and a 12 month high of $92.42. The company has a market capitalization of $18.45 billion, a PE ratio of 13.75 and a beta of 0.70. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50.

Loews (NYSE:L - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The insurance provider reported $1.74 earnings per share (EPS) for the quarter. The business 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 Announces Dividend

The business also recently announced 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 of this dividend is Wednesday, May 28th. This represents a $0.25 annualized dividend and a yield of 0.28%. Loews's dividend payout ratio (DPR) is currently 4.11%.

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.