Citigroup Inc. Increases Stock Holdings in Loews Co. (NYSE:L)

Citigroup Inc. increased its position in shares of Loews Co. (NYSE:L) by 35.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 266,850 shares of the insurance provider’s stock after purchasing an additional 69,896 shares during the period. Citigroup Inc. owned 0.12% of Loews worth $21,094,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Optas LLC grew its holdings in shares of Loews by 1.9% during the 2nd quarter. Optas LLC now owns 8,086 shares of the insurance provider’s stock worth $604,000 after purchasing an additional 151 shares during the period. Atomi Financial Group Inc. lifted its position in Loews by 4.3% in the third quarter. Atomi Financial Group Inc. now owns 4,111 shares of the insurance provider’s stock valued at $325,000 after buying an additional 169 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Loews by 6.2% during the second quarter. Sequoia Financial Advisors LLC now owns 3,195 shares of the insurance provider’s stock worth $239,000 after buying an additional 186 shares during the period. Ballentine Partners LLC increased its position in shares of Loews by 5.2% during the third quarter. Ballentine Partners LLC now owns 3,772 shares of the insurance provider’s stock valued at $298,000 after acquiring an additional 187 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Loews by 7.2% in the 3rd quarter. Empowered Funds LLC now owns 2,990 shares of the insurance provider’s stock valued at $236,000 after acquiring an additional 200 shares during the period. 58.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling at Loews

In related news, insider Jonathan M. Tisch sold 25,000 shares of the company’s 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 sale, the insider now directly owns 461,395 shares in the company, valued at approximately $37,751,338.90. This represents a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann E. Berman sold 1,087 shares of Loews stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total transaction of $88,460.06. Following the completion of the transaction, the director now owns 4,998 shares of the company’s stock, valued at $406,737.24. This represents a 17.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 213,587 shares of company stock valued at $17,586,460 in the last 90 days. Company insiders own 18.70% of the company’s stock.

Loews Stock Up 0.9 %

Shares of NYSE:L opened at $86.61 on Wednesday. The firm has a market capitalization of $18.86 billion, a PE ratio of 11.50 and a beta of 0.82. Loews Co. has a 1 year low of $67.20 and a 1 year high of $86.90. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. The firm’s 50-day moving average is $80.73 and its two-hundred day moving average is $78.52.

Loews Dividend Announcement

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

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.