Loews Co. (NYSE:L) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its holdings in shares of Loews Co. (NYSE:L) by 47.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,319 shares of the insurance provider’s stock after acquiring an additional 12,070 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Loews were worth $2,950,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Swedbank AB acquired a new stake in shares of Loews in the 1st quarter valued at about $23,646,000. TD Asset Management Inc boosted its position in shares of Loews by 77.9% in the 2nd quarter. TD Asset Management Inc now owns 525,920 shares of the insurance provider’s stock valued at $39,307,000 after purchasing an additional 230,231 shares during the period. Bank of Montreal Can boosted its position in shares of Loews by 106.3% in the 2nd quarter. Bank of Montreal Can now owns 353,160 shares of the insurance provider’s stock valued at $27,338,000 after purchasing an additional 182,009 shares during the period. Lee Danner & Bass Inc. acquired a new stake in shares of Loews in the 2nd quarter valued at about $13,379,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Loews by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider’s stock valued at $199,858,000 after purchasing an additional 161,810 shares during the period. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Stock Down 0.3 %

Loews stock opened at $85.82 on Tuesday. The stock has a market capitalization of $18.69 billion, a price-to-earnings ratio of 11.40 and a beta of 0.82. The stock has a 50 day moving average of $80.58 and a two-hundred day moving average of $78.46. Loews Co. has a twelve month low of $67.20 and a twelve month high of $86.90. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48.

Loews Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. StockNews.com cut Loews from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Jefferies Financial Group decreased their price objective on Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st.

Insider Transactions at Loews

In related news, Director Ann E. Berman sold 1,087 shares of the firm’s 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 of the company’s stock, valued at $406,737.24. This trade represents a 17.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan M. Tisch sold 62,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $80.84, for a total value of $5,052,500.00. Following the completion of the transaction, the insider now directly owns 6,781,634 shares of the company’s stock, valued at $548,227,292.56. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 213,587 shares of company stock valued at $17,586,460. Corporate 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.