Cibc World Markets Corp Purchases 13,004 Shares of Loews Co. (NYSE:L)

Cibc World Markets Corp boosted its position in shares of Loews Co. (NYSE:LFree Report) by 43.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 42,703 shares of the insurance provider’s stock after purchasing an additional 13,004 shares during the period. Cibc World Markets Corp’s holdings in Loews were worth $2,972,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in L. Altshuler Shaham Ltd acquired a new stake in shares of Loews during the 4th quarter worth approximately $26,000. Northwest Financial Advisors acquired a new stake in Loews during the 4th quarter worth $28,000. Operose Advisors LLC bought a new stake in shares of Loews during the 3rd quarter valued at $30,000. Desjardins Global Asset Management Inc. lifted its stake in shares of Loews by 225.2% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 340 shares during the period. Finally, Principal Securities Inc. bought a new position in shares of Loews in the 4th quarter worth $38,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Price Performance

Shares of L opened at $75.25 on Friday. The stock has a market cap of $16.66 billion, a P/E ratio of 11.16 and a beta of 0.85. Loews Co. has a 1 year low of $57.47 and a 1 year high of $78.55. The stock’s 50-day moving average price is $75.87 and its two-hundred day moving average price is $73.66. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50.

Loews (NYSE:LGet Free Report) last released its quarterly earnings data on Monday, May 6th. The insurance provider reported $2.05 EPS for the quarter. Loews had a net margin of 9.27% and a return on equity of 9.45%. The business had revenue of $4.23 billion during the quarter.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th will be given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Wednesday, May 29th. Loews’s dividend payout ratio is presently 3.71%.

Insider Buying and Selling at Loews

In related news, insider Jonathan M. Tisch sold 50,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $77.14, for a total value of $3,857,000.00. Following the completion of the transaction, the insider now owns 457,799 shares of the company’s stock, valued at $35,314,614.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 150,000 shares of company stock worth $11,588,500. Corporate insiders own 18.70% of the company’s stock.

Loews Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Loews (NYSE:L)

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