CORDA Investment Management LLC. decreased its position in Loews Co. (NYSE:L) by 2.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 277,451 shares of the insurance provider’s stock after selling 5,925 shares during the period. Loews accounts for 1.7% of CORDA Investment Management LLC.’s holdings, making the stock its 29th biggest position. CORDA Investment Management LLC.’s holdings in Loews were worth $13,880,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Calton & Associates Inc. bought a new position in shares of Loews during the 4th quarter valued at approximately $137,000. Tower Research Capital LLC TRC grew its position in shares of Loews by 387.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,826 shares of the insurance provider’s stock valued at $142,000 after acquiring an additional 2,246 shares during the period. Stuart Chaussee & Associates Inc. bought a new position in shares of Loews during the 4th quarter valued at approximately $167,000. Cerebellum GP LLC bought a new position in shares of Loews during the 4th quarter valued at approximately $196,000. Finally, IBM Retirement Fund bought a new position in shares of Loews during the 3rd quarter valued at approximately $200,000. Hedge funds and other institutional investors own 59.82% of the company’s stock.
Loews Co. (NYSE L) opened at $50.18 on Wednesday. The company has a market cap of $16,681.31, a P/E ratio of 17.37 and a beta of 0.71. Loews Co. has a fifty-two week low of $45.01 and a fifty-two week high of $53.59. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.46.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Shareholders of record on Wednesday, February 28th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.50%. The ex-dividend date is Tuesday, February 27th. Loews’s payout ratio is 7.25%.
A number of research firms have recently weighed in on L. Desjardins downgraded shares of Loews to a “hold” rating and set a $76.00 target price for the company. in a research report on Tuesday, January 30th. Zacks Investment Research raised shares of Loews from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Friday, January 5th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. Loews has an average rating of “Hold” and an average price target of $56.00.
In other news, insider Jonathan M. Tisch sold 7,800 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $47.51, for a total transaction of $370,578.00. Following the sale, the insider now owns 2,990,022 shares in the company, valued at approximately $142,055,945.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kenneth I. Siegel sold 1,940 shares of the firm’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $49.86, for a total transaction of $96,728.40. Following the sale, the insider now owns 11,250 shares in the company, valued at approximately $560,925. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,312 shares of company stock worth $1,400,419. Corporate insiders own 11.80% of the company’s stock.
Loews Corporation is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. The Company has five segments consisted of its four individual operating subsidiaries, CNA Financial Corporation (CNA), Diamond Offshore Drilling, Inc (Diamond Offshore), Boardwalk Pipeline Partners, LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels), and the Corporate segment.
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