Charles Schwab Investment Management Inc. Boosts Stock Holdings in Loews Co. (NYSE:L)

Charles Schwab Investment Management Inc. grew its position in Loews Co. (NYSE:L) by 0.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,611,751 shares of the insurance provider’s stock after purchasing an additional 8,615 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Loews were worth $127,409,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in Loews by 244.0% in the second quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 266 shares during the last quarter. Kimelman & Baird LLC bought a new stake in Loews in the 2nd quarter valued at about $45,000. Family Firm Inc. purchased a new stake in Loews during the second quarter valued at about $46,000. Eastern Bank bought a new position in Loews during the third quarter worth about $47,000. Finally, Innealta Capital LLC bought a new position in Loews during the second quarter worth about $51,000. 58.33% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Loews news, insider Jonathan M. Tisch sold 25,000 shares of Loews stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the completion of the sale, the insider now directly owns 461,395 shares in the company, valued at $37,751,338.90. The trade was a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew H. Tisch sold 50,000 shares of the stock in a transaction on Friday, November 15th. The stock was 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 directly owns 11,939,677 shares in the company, valued at $994,097,507.02. The trade was a 0.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 213,587 shares of company stock valued at $17,586,460. Company insiders own 18.70% of the company’s stock.

Wall Street Analyst Weigh In

L has been the topic of a number of recent research reports. Jefferies Financial Group dropped their price target on shares of Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. StockNews.com cut shares of Loews from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th.

Loews Stock Down 0.3 %

Shares of NYSE L opened at $85.82 on Tuesday. The business has a 50-day simple moving average of $80.58 and a two-hundred day simple moving average of $78.46. Loews Co. has a 52 week low of $67.20 and a 52 week high of $86.90. The company has a market cap of $18.69 billion, a P/E ratio of 11.40 and a beta of 0.82. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 27th will be paid a dividend of $0.0625 per share. The ex-dividend date 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%.

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.