Loews Co. (NYSE:L) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Loews Co. (NYSE:L) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,265,493 shares of the insurance provider’s stock after acquiring an additional 53,428 shares during the period. Geode Capital Management LLC owned about 1.96% of Loews worth $336,005,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its position in Loews by 1.0% in the 3rd quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock valued at $638,506,000 after buying an additional 82,581 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Loews by 2.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,183,138 shares of the insurance provider’s stock valued at $251,627,000 after purchasing an additional 69,459 shares during the period. Dimensional Fund Advisors LP grew its stake in Loews by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider’s stock worth $199,858,000 after purchasing an additional 161,810 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Loews by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock worth $127,409,000 after purchasing an additional 8,615 shares during the period. Finally, AQR Capital Management LLC raised its position in Loews by 5.8% in the 2nd quarter. AQR Capital Management LLC now owns 820,800 shares of the insurance provider’s stock valued at $61,347,000 after purchasing an additional 45,237 shares in the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Loews

In related news, Director Andrew H. Tisch sold 50,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $83.26, for a total value of $4,163,000.00. Following the completion of the sale, the director now directly owns 11,939,677 shares of the company’s stock, valued at $994,097,507.02. The trade was a 0.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles M. Diker sold 1,146 shares of the firm’s 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 transaction, the director now directly owns 19,906 shares in the company, valued at approximately $1,728,437.98. The trade was a 5.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 126,146 shares of company stock valued at $10,499,507. 18.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Loews Price Performance

Loews stock opened at $84.19 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. The company has a fifty day simple moving average of $82.50 and a 200-day simple moving average of $79.34. The stock has a market cap of $18.33 billion, a P/E ratio of 11.18 and a beta of 0.83. Loews Co. has a 12-month low of $67.20 and a 12-month high of $87.45.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend was Wednesday, November 27th. Loews’s dividend payout ratio (DPR) is 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.