Northern Trust Corp Buys 53,625 Shares of Loews Co. (NYSE:L)

Northern Trust Corp increased its position in shares of Loews Co. (NYSE:L - Free Report) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,097,608 shares of the insurance provider's stock after purchasing an additional 53,625 shares during the quarter. Northern Trust Corp owned approximately 0.96% of Loews worth $177,646,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Loews during the 4th quarter worth $623,493,000. Geode Capital Management LLC increased its position in Loews by 4.9% in the fourth 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. boosted its stake in shares of 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 grew its position in shares of 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 buying an additional 8,750 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Loews by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,623,291 shares of the insurance provider's stock worth $137,477,000 after buying an additional 11,540 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Loews

In other Loews news, Director Jonathan M. Tisch sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the completion of the transaction, the director now owns 7,105,529 shares of the company's stock, valued at $604,538,407.32. This represents a 0.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jonathan M. Tisch sold 3,691 shares of Loews stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total transaction of $320,710.99. The disclosure for this sale can be found here. In the last three months, insiders sold 151,327 shares of company stock worth $12,851,055. 19.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Loews Trading Up 1.4 %

Loews stock traded up $1.24 during midday trading on Wednesday, hitting $88.02. 95,738 shares of the stock were exchanged, compared to its average volume of 763,553. Loews Co. has a 52 week low of $73.15 and a 52 week high of $92.42. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $18.51 billion, a PE ratio of 13.75 and a beta of 0.70. The company has a fifty day simple moving average of $86.49 and a two-hundred day simple moving average of $84.81.

Loews (NYSE:L - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The insurance provider reported $1.74 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Wednesday, February 26th. Loews's dividend payout ratio (DPR) is presently 3.91%.

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.