Canada Pension Plan Investment Board lowered its position in Loews Co. (NYSE:L) by 49.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,021 shares of the insurance provider’s stock after selling 39,341 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Loews were worth $1,801,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. Perigon Wealth Management LLC acquired a new position in Loews in the fourth quarter worth about $27,000. First Mercantile Trust Co. lifted its position in shares of Loews by 206.3% during the 4th quarter. First Mercantile Trust Co. now owns 824 shares of the insurance provider’s stock worth $37,000 after buying an additional 555 shares during the period. Addison Advisors LLC acquired a new stake in Loews in the 4th quarter valued at $54,000. Tacita Capital Inc bought a new stake in Loews in the fourth quarter valued at $101,000. Finally, Trust Co. of Vermont raised its stake in Loews by 64.7% during the fourth quarter. Trust Co. of Vermont now owns 2,364 shares of the insurance provider’s stock worth $106,000 after acquiring an additional 929 shares in the last quarter. 57.36% of the stock is currently owned by institutional investors.
Shares of NYSE:L opened at $53.35 on Thursday. The company’s fifty day moving average is $50.68 and its 200-day moving average is $44.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.32 and a current ratio of 0.32. Loews Co. has a 52 week low of $27.33 and a 52 week high of $53.43. The company has a market capitalization of $14.25 billion, a PE ratio of -13.58 and a beta of 0.90.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 9th. Stockholders of record on Wednesday, February 24th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Tuesday, February 23rd.
In other news, insider Jonathan M. Tisch sold 4,469 shares of the company’s stock in a transaction that occurred on Friday, February 12th. The shares were sold at an average price of $48.34, for a total transaction of $216,031.46. Following the transaction, the insider now directly owns 9,397 shares in the company, valued at $454,250.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard Waldo Scott sold 6,378 shares of the stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $51.34, for a total transaction of $327,446.52. Following the sale, the senior vice president now directly owns 45,151 shares in the company, valued at $2,318,052.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,017 shares of company stock worth $551,878. 15.20% of the stock is owned by corporate insiders.
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 property, marine, and boiler and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto and umbrella coverages.
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