Loews Co. (NYSE:L) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its holdings in shares of Loews Co. (NYSE:LFree Report) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 297,181 shares of the insurance provider’s stock after purchasing an additional 10,473 shares during the period. The Manufacturers Life Insurance Company owned 0.13% of Loews worth $20,681,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. KBC Group NV boosted its stake in Loews by 10.9% during the 4th quarter. KBC Group NV now owns 79,262 shares of the insurance provider’s stock worth $5,516,000 after purchasing an additional 7,797 shares during the period. California State Teachers Retirement System raised its position in Loews by 11.0% during the 4th quarter. California State Teachers Retirement System now owns 456,408 shares of the insurance provider’s stock worth $31,761,000 after buying an additional 45,083 shares during the last quarter. TFO Wealth Partners LLC raised its position in Loews by 427,800.0% during the 4th quarter. TFO Wealth Partners LLC now owns 4,279 shares of the insurance provider’s stock worth $298,000 after buying an additional 4,278 shares during the last quarter. Treasurer of the State of North Carolina raised its position in Loews by 24.5% during the 4th quarter. Treasurer of the State of North Carolina now owns 113,509 shares of the insurance provider’s stock worth $7,899,000 after buying an additional 22,330 shares during the last quarter. Finally, Portfolio Design Labs LLC purchased a new position in Loews during the 4th quarter worth $457,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Activity

In other news, insider Jonathan M. Tisch sold 50,000 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $77.39, for a total value of $3,869,500.00. Following the completion of the transaction, the insider now owns 607,799 shares in the company, valued at approximately $47,037,564.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 150,000 shares of company stock worth $11,588,500 in the last 90 days. 18.70% of the stock is currently owned by corporate insiders.

Loews Stock Up 0.3 %

Shares of Loews stock opened at $75.25 on Friday. The company has a market cap of $16.66 billion, a P/E ratio of 11.16 and a beta of 0.85. 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 one year low of $57.47 and a one year high of $78.55. The firm has a fifty day moving average of $75.87 and a two-hundred day moving average of $73.66.

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

Loews Announces Dividend

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

About Loews

(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.

See Also

Institutional Ownership by Quarter for Loews (NYSE:L)

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