Loews Co. (NYSE:L) Stock Position Reduced by Comerica Bank

Comerica Bank cut its holdings in Loews Co. (NYSE:L) by 6.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 32,690 shares of the insurance provider’s stock after selling 2,167 shares during the period. Comerica Bank’s holdings in Loews were worth $2,769,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Halbert Hargrove Global Advisors LLC bought a new position in Loews in the 4th quarter worth approximately $26,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Loews during the 3rd quarter valued at $49,000. Human Investing LLC acquired a new position in shares of Loews in the 4th quarter valued at $51,000. Graney & King LLC acquired a new position in shares of Loews in the fourth quarter worth about $56,000. Finally, Intact Investment Management Inc. acquired a new position in Loews in the 4th quarter worth approximately $68,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Loews

In other news, Director Jonathan M. Tisch sold 50,000 shares of Loews stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the sale, the director now directly owns 7,105,529 shares in the company, valued at approximately $604,538,407.32. The trade was a 0.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 147,636 shares of company stock worth $12,530,344 over the last three months. 19.00% of the stock is currently owned by insiders.

Loews Trading Up 0.1 %

Shares of NYSE L opened at $87.94 on Friday. The stock has a market cap of $18.50 billion, a price-to-earnings ratio of 13.74 and a beta of 0.70. The business has a 50 day simple moving average of $86.54 and a 200 day simple moving average of $84.88. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. Loews Co. has a 52 week low of $73.15 and a 52 week high of $92.42.

Loews (NYSE:L) last posted its earnings results on Monday, May 5th. The insurance provider reported $1.74 earnings per share for the quarter. The firm had revenue of $4.49 billion during the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a dividend of $0.0625 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 annualized dividend and a dividend yield of 0.28%. Loews’s dividend payout ratio is presently 3.91%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Loews from a “hold” rating to a “buy” rating in a research note on Tuesday.

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.