Securian Asset Management Inc. Sells 288 Shares of Loews Co. (NYSE:L)

Securian Asset Management Inc. lessened its holdings in shares of Loews Co. (NYSE:L) by 2.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 9,641 shares of the insurance provider’s stock after selling 288 shares during the period. Securian Asset Management Inc.’s holdings in Loews were worth $816,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Sequoia Financial Advisors LLC grew its holdings in shares of Loews by 28.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 4,432 shares of the insurance provider’s stock worth $375,000 after purchasing an additional 969 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Loews by 15.6% in the fourth quarter. HighTower Advisors LLC now owns 75,423 shares of the insurance provider’s stock valued at $6,388,000 after acquiring an additional 10,204 shares during the last quarter. Global View Capital Management LLC bought a new position in Loews in the fourth quarter valued at about $846,000. Daiwa Securities Group Inc. boosted its holdings in Loews by 7.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 24,336 shares of the insurance provider’s stock valued at $2,061,000 after acquiring an additional 1,704 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Loews by 24.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,327 shares of the insurance provider’s stock valued at $2,992,000 after acquiring an additional 6,885 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Loews from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th.

Loews Price Performance

Loews stock opened at $86.56 on Friday. The business’s 50-day simple moving average is $84.75 and its 200 day simple moving average is $82.86. The stock has a market cap of $18.43 billion, a price-to-earnings ratio of 13.53 and a beta of 0.80. Loews Co. has a 12-month low of $72.91 and a 12-month high of $88.29. 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) last issued its earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date was Wednesday, February 26th. Loews’s dividend payout ratio (DPR) is currently 3.91%.

Insiders Place Their Bets

In other news, Director Jonathan M. Tisch sold 47,636 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the sale, the director now owns 6,705,529 shares of the company’s stock, valued at $569,165,301.52. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew H. Tisch sold 7,533 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $84.35, for a total value of $635,408.55. Following the sale, the director now directly owns 1,568,191 shares in the company, valued at approximately $132,276,910.85. This represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 158,860 shares of company stock worth $13,486,463. Insiders own 18.70% of the company’s stock.

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.