Martingale Asset Management L P Sells 104,833 Shares of Loews Co. (NYSE:L)

Martingale Asset Management L P trimmed its position in Loews Co. (NYSE:L) by 28.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 261,121 shares of the insurance provider’s stock after selling 104,833 shares during the period. Martingale Asset Management L P owned 0.12% of Loews worth $20,642,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position in shares of Loews by 2.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,183,138 shares of the insurance provider’s stock valued at $251,627,000 after buying an additional 69,459 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Loews by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider’s stock valued at $199,858,000 after buying an additional 161,810 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Loews by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock valued at $127,409,000 after buying an additional 8,615 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Loews by 5.8% during the 2nd quarter. AQR Capital Management LLC now owns 820,800 shares of the insurance provider’s stock valued at $61,347,000 after buying an additional 45,237 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Loews by 5.0% during the 2nd quarter. Hsbc Holdings PLC now owns 692,116 shares of the insurance provider’s stock valued at $51,750,000 after buying an additional 33,125 shares in the last quarter. 58.33% of the stock is owned by institutional investors.

Loews Trading Up 0.6 %

Shares of L opened at $87.05 on Friday. The firm’s 50-day moving average price is $81.04 and its 200-day moving average price is $78.64. The firm has a market capitalization of $18.96 billion, a price-to-earnings ratio of 11.56 and a beta of 0.82. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. Loews Co. has a 1-year low of $67.20 and a 1-year high of $87.45.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend is Wednesday, November 27th. Loews’s payout ratio is 3.32%.

Insider Buying and Selling

In other Loews news, Director Andrew H. Tisch sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $83.16, for a total transaction of $6,237,000.00. Following the completion of the sale, the director now directly owns 12,089,677 shares of the company’s stock, valued at approximately $1,005,377,539.32. This represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan M. Tisch sold 62,500 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $80.84, for a total transaction of $5,052,500.00. Following the sale, the insider now directly owns 6,781,634 shares of the company’s stock, valued at approximately $548,227,292.56. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 213,587 shares of company stock valued at $17,586,460 over the last quarter. Corporate insiders own 18.70% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Loews from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th.

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.