2,552 Shares in Loews Co. (NYSE:L) Bought by Banco Santander S.A.

Banco Santander S.A. acquired a new stake in Loews Co. (NYSE:L) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,552 shares of the insurance provider’s stock, valued at approximately $202,000.

Other large investors have also modified their holdings of the company. Toronto Dominion Bank lifted its position in shares of Loews by 0.4% during the 1st quarter. Toronto Dominion Bank now owns 126,561 shares of the insurance provider’s stock valued at $9,908,000 after buying an additional 450 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of Loews by 9.5% in the first quarter. 1832 Asset Management L.P. now owns 26,911 shares of the insurance provider’s stock valued at $2,107,000 after acquiring an additional 2,326 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in shares of Loews in the first quarter worth approximately $462,000. Virtus Investment Advisers Inc. purchased a new stake in shares of Loews during the first quarter worth approximately $615,000. Finally, California State Teachers Retirement System raised its stake in Loews by 11.1% in the 1st quarter. California State Teachers Retirement System now owns 506,922 shares of the insurance provider’s stock valued at $39,687,000 after purchasing an additional 50,514 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on L. StockNews.com lowered shares of Loews from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Jefferies Financial Group dropped their price target on shares of Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st.

Insider Activity at Loews

In other Loews news, Director Ann E. Berman sold 1,087 shares of Loews stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total transaction of $88,460.06. Following the completion of the sale, the director now directly owns 4,998 shares of the company’s stock, valued at $406,737.24. The trade was a 17.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew H. Tisch sold 50,000 shares of the company’s 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 213,587 shares of company stock worth $17,586,460. Insiders own 18.70% of the company’s stock.

Loews Price Performance

NYSE:L opened at $86.07 on Friday. The company has a market capitalization of $18.74 billion, a P/E ratio of 11.43 and a beta of 0.82. 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 Co. has a 52 week low of $67.20 and a 52 week high of $86.27. The stock’s fifty day moving average is $80.44 and its two-hundred day moving average is $78.40.

Loews Announces Dividend

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

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.