Loews Co. (NYSE:L) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its stake in Loews Co. (NYSE:L) by 52.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 537 shares of the insurance provider’s stock after selling 588 shares during the period. Federated Hermes Inc.’s holdings in Loews were worth $45,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in L. Norges Bank purchased a new stake in shares of Loews in the 4th quarter worth about $623,493,000. Assenagon Asset Management S.A. grew its position in shares of Loews by 345.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 296,538 shares of the insurance provider’s stock valued at $25,114,000 after purchasing an additional 229,965 shares during the last quarter. Boston Partners increased its stake in shares of Loews by 16.9% during the 4th quarter. Boston Partners now owns 1,499,417 shares of the insurance provider’s stock worth $126,983,000 after purchasing an additional 217,115 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Loews by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider’s stock worth $378,087,000 after purchasing an additional 210,594 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Loews during the 4th quarter valued at $12,727,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Insider Activity

In other news, Director Jonathan M. Tisch sold 3,691 shares of Loews stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jonathan M. Tisch sold 50,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the sale, the director now directly owns 7,105,529 shares of the company’s stock, valued at approximately $604,538,407.32. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 151,327 shares of company stock valued at $12,851,055 in the last 90 days. 18.70% of the stock is currently owned by insiders.

Loews Stock Performance

NYSE:L opened at $85.27 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a market cap of $17.94 billion, a PE ratio of 13.32 and a beta of 0.60. The firm has a 50 day simple moving average of $85.91 and a 200-day simple moving average of $84.24. Loews Co. has a 1-year low of $73.15 and a 1-year high of $92.42.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.29%. The ex-dividend date was Wednesday, February 26th. Loews’s dividend payout ratio (DPR) is 3.91%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Loews from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

Loews Company 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.