CIBC Asset Management Inc boosted its stake in Loews Co. (NYSE:L – Get Rating) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,746 shares of the insurance provider’s stock after purchasing an additional 814 shares during the quarter. CIBC Asset Management Inc’s holdings in Loews were worth $1,735,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Loews by 416.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 496 shares of the insurance provider’s stock valued at $29,000 after buying an additional 400 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in Loews during the second quarter worth $36,000. CI Investments Inc. grew its stake in shares of Loews by 61.8% in the 3rd quarter. CI Investments Inc. now owns 626 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 239 shares in the last quarter. Delta Asset Management LLC TN purchased a new stake in shares of Loews in the fourth quarter valued at about $46,000. Finally, Ronald Blue Trust Inc. lifted its position in shares of Loews by 165.1% during the fourth quarter. Ronald Blue Trust Inc. now owns 835 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 520 shares in the last quarter. 64.00% of the stock is currently owned by institutional investors and hedge funds.
Loews Price Performance
Loews stock traded down $0.39 during midday trading on Monday, reaching $58.95. 197,360 shares of the stock were exchanged, compared to its average volume of 821,171. The company’s fifty day moving average is $57.64 and its 200-day moving average is $58.29. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a market cap of $13.43 billion, a PE ratio of 13.31 and a beta of 0.83. Loews Co. has a 52 week low of $49.36 and a 52 week high of $63.24.
Loews Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 6th. Stockholders of record on Wednesday, May 24th were paid a $0.0625 dividend. The ex-dividend date was Tuesday, May 23rd. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.42%. Loews’s dividend payout ratio (DPR) is 5.67%.
Wall Street Analysts Forecast Growth
Separately, StockNews.com assumed coverage on shares of Loews in a report on Thursday, May 18th. They set a “buy” rating for the company.
Insider Activity
In other news, Director Ann E. Berman sold 474 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $56.30, for a total value of $26,686.20. Following the completion of the sale, the director now owns 3,292 shares of the company’s stock, valued at approximately $185,339.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Loews news, Director Ann E. Berman sold 474 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $56.30, for a total transaction of $26,686.20. Following the completion of the sale, the director now owns 3,292 shares of the company’s stock, valued at approximately $185,339.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Corp Loews purchased 4,800 shares of the company’s stock in a transaction on Wednesday, May 3rd. The shares were purchased at an average cost of $39.79 per share, with a total value of $190,992.00. Following the transaction, the insider now directly owns 243,958,688 shares in the company, valued at $9,707,116,195.52. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 259,796 shares of company stock valued at $14,119,786. Corporate insiders own 18.30% of the company’s stock.
Loews Company Profile
Loews Corp. is a holding company, which engages in the business of commercial property and casualty insurance, transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. It operates through the following segments: CNA Financial Corporation, Boardwalk Pipeline Partners, LP and Loews Hotels Holding Corporation, and Corporate.
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