Loews Co. (NYSE:L) Shares Purchased by Citigroup Inc.

Citigroup Inc. raised its stake in Loews Co. (NYSE:L) by 35.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 266,850 shares of the insurance provider’s stock after acquiring an additional 69,896 shares during the period. Citigroup Inc.’s holdings in Loews were worth $21,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Loews by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock valued at $127,409,000 after acquiring an additional 8,615 shares during the period. Banco Santander S.A. purchased a new stake in Loews in the 3rd quarter valued at $202,000. Intech Investment Management LLC boosted its stake in Loews by 8.0% during the 3rd quarter. Intech Investment Management LLC now owns 137,566 shares of the insurance provider’s stock worth $10,875,000 after purchasing an additional 10,213 shares during the period. PNC Financial Services Group Inc. grew its position in Loews by 47.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 37,319 shares of the insurance provider’s stock worth $2,950,000 after purchasing an additional 12,070 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Loews in the third quarter valued at $399,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on L. StockNews.com downgraded shares of Loews from a “strong-buy” rating to a “buy” rating in a research note 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.

Loews Stock Performance

Shares of L opened at $86.61 on Wednesday. The stock has a market capitalization of $18.86 billion, a P/E ratio of 11.50 and a beta of 0.82. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. Loews Co. has a 1 year low of $67.20 and a 1 year high of $86.90. The company’s fifty day moving average is $80.73 and its two-hundred day moving average is $78.52.

Loews Announces Dividend

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

Insider Activity at Loews

In other Loews news, Director Ann E. Berman sold 1,087 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the sale, the director now directly owns 4,998 shares in the company, valued at approximately $406,737.24. The trade was a 17.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew H. Tisch sold 50,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $83.26, for a total transaction of $4,163,000.00. Following the completion of the transaction, the director now owns 11,939,677 shares of the company’s stock, valued at $994,097,507.02. This represents a 0.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 213,587 shares of company stock worth $17,586,460 over the last 90 days. Company 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.