Fmr LLC Sells 7,000 Shares of Loews Co. (NYSE:L)

Fmr LLC lessened its holdings in shares of Loews Co. (NYSE:L) by 1.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 359,332 shares of the insurance provider’s stock after selling 7,000 shares during the quarter. Fmr LLC owned about 0.16% of Loews worth $28,405,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Optas LLC lifted its holdings in shares of Loews by 1.9% in the second quarter. Optas LLC now owns 8,086 shares of the insurance provider’s stock worth $604,000 after buying an additional 151 shares in the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of Loews by 2.6% in the third quarter. Summit Trail Advisors LLC now owns 6,038 shares of the insurance provider’s stock worth $477,000 after buying an additional 153 shares in the last quarter. Atomi Financial Group Inc. raised its stake in Loews by 4.3% in the third quarter. Atomi Financial Group Inc. now owns 4,111 shares of the insurance provider’s stock valued at $325,000 after purchasing an additional 169 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Loews by 6.2% in the second quarter. Sequoia Financial Advisors LLC now owns 3,195 shares of the insurance provider’s stock valued at $239,000 after purchasing an additional 186 shares in the last quarter. Finally, Ballentine Partners LLC raised its stake in Loews by 5.2% in the third quarter. Ballentine Partners LLC now owns 3,772 shares of the insurance provider’s stock valued at $298,000 after purchasing an additional 187 shares in the last quarter. Institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling at Loews

In other news, Director Charles M. Diker sold 1,146 shares of Loews stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $86.83, for a total value of $99,507.18. Following the completion of the transaction, the director now owns 19,906 shares of the company’s stock, valued at $1,728,437.98. The trade was a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $83.26, for a total value of $4,163,000.00. Following the completion of the transaction, the director now directly owns 11,939,677 shares of the company’s stock, valued at approximately $994,097,507.02. This represents a 0.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 126,146 shares of company stock valued at $10,499,507. 18.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Loews Stock Performance

NYSE:L opened at $85.04 on Tuesday. The stock has a market cap of $18.52 billion, a P/E ratio of 11.29 and a beta of 0.83. The firm’s fifty day simple moving average is $82.07 and its 200 day simple moving average is $79.14. Loews Co. has a twelve month low of $67.20 and a twelve month high of $87.45. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48.

Loews Announces Dividend

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

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.