Raymond James Financial Services Advisors Inc. Has $1.29 Million Stake in Loews Co. (NYSE:L)

Raymond James Financial Services Advisors Inc. reduced its position in shares of Loews Co. (NYSE:L) by 13.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,474 shares of the insurance provider’s stock after selling 2,943 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Loews were worth $1,286,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. SG Americas Securities LLC grew its position in Loews by 112.1% during the fourth quarter. SG Americas Securities LLC now owns 49,417 shares of the insurance provider’s stock valued at $3,439,000 after purchasing an additional 26,120 shares in the last quarter. Metis Global Partners LLC increased its stake in shares of Loews by 16.4% in the third quarter. Metis Global Partners LLC now owns 6,885 shares of the insurance provider’s stock worth $436,000 after acquiring an additional 970 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of Loews during the third quarter worth $548,000. Nordea Investment Management AB boosted its position in Loews by 5.3% during the fourth quarter. Nordea Investment Management AB now owns 13,668 shares of the insurance provider’s stock valued at $951,000 after purchasing an additional 690 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Loews by 5.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 174,415 shares of the insurance provider’s stock valued at $11,042,000 after purchasing an additional 8,925 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Stock Performance

Shares of L stock opened at $73.90 on Friday. The firm has a market cap of $16.42 billion, a P/E ratio of 11.73 and a beta of 0.83. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.32 and a quick ratio of 0.32. Loews Co. has a fifty-two week low of $55.31 and a fifty-two week high of $78.55. The stock’s 50-day moving average is $75.36 and its two-hundred day moving average is $70.48.

Loews (NYSE:L) last issued its quarterly earnings data on Monday, February 5th. The insurance provider reported $1.99 earnings per share for the quarter. The firm had revenue of $4.26 billion for the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%.

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Wednesday, February 21st were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Tuesday, February 20th. Loews’s dividend payout ratio is presently 3.97%.

Insiders Place Their Bets

In related news, Director Paul J. Fribourg sold 951 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $75.02, for a total value of $71,344.02. Following the transaction, the director now directly owns 21,200 shares of the company’s stock, valued at approximately $1,590,424. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Paul J. Fribourg sold 951 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $75.02, for a total transaction of $71,344.02. Following the completion of the sale, the director now directly owns 21,200 shares of the company’s stock, valued at approximately $1,590,424. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jonathan M. Tisch sold 4,287 shares of Loews stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $71.91, for a total transaction of $308,278.17. Following the completion of the transaction, the insider now owns 106,870 shares in the company, valued at approximately $7,685,021.70. The disclosure for this sale can be found here. Insiders have sold 137,563 shares of company stock valued at $10,052,551 over the last three months. 18.30% of the stock is currently owned by insiders.

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.