Barings LLC grew its stake in Loews Co. (NYSE:L) by 200.3% during the fourth quarter, HoldingsChannel reports. The firm owned 28,037 shares of the insurance provider’s stock after purchasing an additional 18,700 shares during the period. Barings LLC’s holdings in Loews were worth $1,403,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Cypress Capital Management LLC bought a new position in shares of Loews in the fourth quarter valued at approximately $209,000. California Public Employees Retirement System lifted its holdings in shares of Loews by 3.5% in the fourth quarter. California Public Employees Retirement System now owns 802,044 shares of the insurance provider’s stock valued at $40,126,000 after purchasing an additional 27,465 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Loews by 206.5% in the fourth quarter. Teacher Retirement System of Texas now owns 280,246 shares of the insurance provider’s stock valued at $14,021,000 after purchasing an additional 188,813 shares in the last quarter. ING Groep NV lifted its holdings in shares of Loews by 10.0% in the fourth quarter. ING Groep NV now owns 26,244 shares of the insurance provider’s stock valued at $1,313,000 after purchasing an additional 2,391 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in shares of Loews by 5.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 51,618 shares of the insurance provider’s stock valued at $2,582,000 after purchasing an additional 2,679 shares in the last quarter. Institutional investors own 59.82% of the company’s stock.
Shares of Loews Co. (L) opened at $50.08 on Tuesday. The company has a market capitalization of $16,860.00, a price-to-earnings ratio of 14.52 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 current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.46.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 13th. Shareholders of record on Wednesday, February 28th will be given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Tuesday, February 27th. Loews’s dividend payout ratio is currently 7.25%.
In other Loews news, insider Kenneth I. Siegel sold 1,940 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $49.86, for a total value of $96,728.40. Following the completion of the sale, the insider now directly owns 11,250 shares of the company’s stock, valued at $560,925. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan M. Tisch sold 7,800 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $47.51, for a total value of $370,578.00. Following the completion of the sale, the insider now directly owns 2,990,022 shares of the company’s stock, valued at $142,055,945.22. The disclosure for this sale can be found here. Insiders sold 28,360 shares of company stock valued at $1,400,277 over the last three months. Company insiders own 11.80% of the company’s stock.
L has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Loews from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Friday, January 5th. Desjardins lowered Loews to a “hold” rating and set a $76.00 price target on the stock. in a report on Tuesday, January 30th. Finally, ValuEngine lowered Loews from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $56.00.
Loews Company Profile
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.
Want to see what other hedge funds are holding L? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Loews Co. (NYSE:L).
Receive News & Ratings for Loews Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Loews and related companies with MarketBeat.com's FREE daily email newsletter.