Brown Brothers Harriman & Co. Raises Holdings in Loews Co. (NYSE:L)

Brown Brothers Harriman & Co. lifted its holdings in Loews Co. (NYSE:L) by 183.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,460 shares of the insurance provider’s stock after purchasing an additional 10,000 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Loews were worth $1,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC purchased a new position in Loews in the 4th quarter worth about $26,000. Human Investing LLC bought a new position in Loews during the fourth quarter valued at approximately $51,000. Wilmington Savings Fund Society FSB purchased a new stake in Loews in the third quarter worth approximately $49,000. Graney & King LLC bought a new stake in Loews in the 4th quarter worth approximately $56,000. Finally, Intact Investment Management Inc. purchased a new stake in Loews during the 4th quarter valued at $68,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Loews from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th.

Loews Stock Performance

L opened at $90.66 on Monday. The company’s 50 day moving average is $85.78 and its 200 day moving average is $83.44. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The company has a market cap of $19.30 billion, a price-to-earnings ratio of 14.17 and a beta of 0.80. Loews Co. has a 12-month low of $72.91 and a 12-month high of $92.13.

Loews (NYSE:L) last issued its quarterly earnings data on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews’s dividend payout ratio (DPR) is currently 3.91%.

Insider Activity

In related news, Director Jonathan M. Tisch sold 50,000 shares of Loews stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the sale, the director now owns 7,105,529 shares of the company’s stock, valued at approximately $604,538,407.32. This trade represents a 0.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan M. Tisch sold 3,691 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. Insiders have sold a total of 158,860 shares of company stock valued at $13,486,463 in the last ninety days. 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.