Loews Co. (NYSE:L) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in Loews Co. (NYSE:L) by 15.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,215,841 shares of the insurance provider’s stock after selling 224,747 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Loews were worth $96,112,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Swedbank AB boosted its holdings in Loews by 15.6% in the 2nd quarter. Swedbank AB now owns 349,047 shares of the insurance provider’s stock worth $26,088,000 after acquiring an additional 47,013 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Loews by 8.2% in the second quarter. Nisa Investment Advisors LLC now owns 122,208 shares of the insurance provider’s stock valued at $9,134,000 after purchasing an additional 9,296 shares during the period. Intech Investment Management LLC grew its holdings in Loews by 8.0% during the 3rd quarter. Intech Investment Management LLC now owns 137,566 shares of the insurance provider’s stock valued at $10,875,000 after purchasing an additional 10,213 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake 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 buying an additional 8,615 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in Loews by 47.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 37,319 shares of the insurance provider’s stock worth $2,950,000 after buying an additional 12,070 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Stock Performance

Loews stock opened at $86.73 on Monday. 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 stock has a 50 day moving average of $81.20 and a 200-day moving average of $78.73. The stock has a market cap of $18.89 billion, a P/E ratio of 11.52 and a beta of 0.82. Loews Co. has a 52 week low of $67.20 and a 52 week high of $87.45.

Loews Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Transactions at Loews

In other Loews news, Director Ann E. Berman sold 1,087 shares of Loews stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total value of $88,460.06. Following the completion of the transaction, the director now directly owns 4,998 shares in the company, valued at $406,737.24. The trade was a 17.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andrew H. Tisch sold 50,000 shares of the stock in a transaction that occurred on 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 sale, the director now owns 11,939,677 shares in the company, valued at $994,097,507.02. The trade was a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 213,587 shares of company stock valued at $17,586,460. Insiders own 18.70% of the company’s stock.

Loews 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.