Ontario Teachers Pension Plan Board Buys 6,101 Shares of Loews Co. (NYSE:L)

Ontario Teachers Pension Plan Board grew its stake in Loews Co. (NYSE:L) by 70.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,753 shares of the insurance provider’s stock after acquiring an additional 6,101 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Loews were worth $1,027,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in L. Altshuler Shaham Ltd bought a new stake in Loews in the fourth quarter worth $26,000. Northwest Financial Advisors bought a new stake in Loews in the fourth quarter worth $28,000. NBC Securities Inc. bought a new stake in Loews in the third quarter worth $29,000. Operose Advisors LLC bought a new stake in Loews in the third quarter worth $30,000. Finally, Desjardins Global Asset Management Inc. boosted its holdings in Loews by 225.2% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 340 shares in the last quarter. 58.33% of the stock is owned by institutional investors.

Loews Trading Up 0.8 %

Shares of NYSE:L opened at $74.75 on Friday. The company has a market cap of $16.55 billion, a P/E ratio of 11.09 and a beta of 0.82. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. Loews Co. has a 1 year low of $55.94 and a 1 year high of $78.55. The stock’s fifty day moving average price is $76.33 and its 200-day moving average price is $73.05.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, May 6th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter. The firm had revenue of $4.23 billion for the quarter. Loews had a return on equity of 9.45% and a net margin of 9.27%.

Loews Dividend Announcement

The firm 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 dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Wednesday, May 29th. Loews’s payout ratio is currently 3.71%.

Insider Activity

In other Loews news, Director Paul J. Fribourg sold 951 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $75.02, for a total value of $71,344.02. Following the transaction, the director now directly owns 21,200 shares of the company’s stock, valued at $1,590,424. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jonathan M. Tisch sold 50,000 shares of Loews stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $77.24, for a total value of $3,862,000.00. Following the completion of the transaction, the insider now owns 507,799 shares in the company, valued at approximately $39,222,394.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Paul J. Fribourg sold 951 shares of Loews stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $75.02, for a total value of $71,344.02. Following the completion of the transaction, the director now owns 21,200 shares of the company’s stock, valued at approximately $1,590,424. The disclosure for this sale can be found here. Insiders have sold a total of 150,951 shares of company stock valued at $11,659,844 over the last ninety days. 18.70% of the stock is currently owned by corporate insiders.

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.