Bank of New York Mellon Corp Purchases 77,386 Shares of Loews Co. (NYSE:L)

Bank of New York Mellon Corp raised its position in shares of Loews Co. (NYSE:L) by 6.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,287,833 shares of the insurance provider’s stock after purchasing an additional 77,386 shares during the quarter. Bank of New York Mellon Corp owned 0.59% of Loews worth $109,067,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp lifted its position in shares of Loews by 1.0% during 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 in the last quarter. Geode Capital Management LLC increased its stake in Loews by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider’s stock worth $336,005,000 after acquiring an additional 53,428 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Loews by 0.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider’s stock valued at $268,640,000 after purchasing an additional 8,750 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of 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 valued at $127,409,000 after purchasing an additional 8,615 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Loews by 13.1% during the 3rd quarter. Barclays PLC now owns 752,380 shares of the insurance provider’s stock valued at $59,473,000 after purchasing an additional 87,259 shares during the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Stock Performance

Shares of Loews stock opened at $86.56 on Friday. The stock’s fifty day moving average is $84.60 and its two-hundred day moving average is $82.44. The company has a market capitalization of $18.43 billion, a PE ratio of 13.53 and a beta of 0.83. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a 52 week low of $72.91 and a 52 week high of $88.29.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, February 10th. The insurance provider reported $0.86 EPS for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th will be given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.29%. The ex-dividend date is Wednesday, February 26th. Loews’s dividend payout ratio (DPR) is presently 3.91%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Loews from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

Insiders Place Their Bets

In other Loews news, Director Jonathan M. Tisch sold 3,691 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles M. Diker sold 1,146 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total value of $99,507.18. Following the completion of the sale, the director now owns 19,906 shares of the company’s stock, valued at $1,728,437.98. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,370 shares of company stock worth $5,309,627. 18.70% of the stock is currently owned by company insiders.

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.