National Bank of Canada FI Trims Position in Loews Co. (NYSE:L)

National Bank of Canada FI lowered its holdings in Loews Co. (NYSE:L) by 7.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,094 shares of the insurance provider’s stock after selling 7,855 shares during the period. National Bank of Canada FI’s holdings in Loews were worth $8,223,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Venturi Wealth Management LLC raised its stake in Loews by 10.6% during the fourth quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider’s stock worth $105,000 after purchasing an additional 119 shares during the period. Wedmont Private Capital raised its position in shares of Loews by 5.2% in the 4th quarter. Wedmont Private Capital now owns 3,065 shares of the insurance provider’s stock worth $249,000 after buying an additional 151 shares during the period. Mather Group LLC. boosted its holdings in Loews by 7.7% in the fourth quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider’s stock valued at $190,000 after acquiring an additional 161 shares during the last quarter. Perigon Wealth Management LLC grew its position in Loews by 5.9% during the fourth quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider’s stock valued at $285,000 after acquiring an additional 183 shares during the period. Finally, Aaron Wealth Advisors LLC increased its stake in Loews by 5.8% during the fourth quarter. Aaron Wealth Advisors LLC now owns 3,568 shares of the insurance provider’s stock worth $302,000 after acquiring an additional 196 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Loews Stock Performance

NYSE:L opened at $83.16 on Friday. The firm’s fifty day simple moving average is $86.27 and its 200 day simple moving average is $83.80. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a twelve month low of $72.91 and a twelve month high of $92.42. The firm has a market capitalization of $17.70 billion, a price-to-earnings ratio of 12.99 and a beta of 0.80.

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

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a dividend of $0.0625 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.30%. Loews’s dividend payout ratio is currently 3.91%.

Insider Transactions at Loews

In related news, Director Jonathan M. Tisch sold 3,691 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jonathan M. Tisch sold 47,636 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $84.88, for a total value of $4,043,343.68. Following the sale, the director now owns 6,705,529 shares of the company’s stock, valued at approximately $569,165,301.52. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 151,327 shares of company stock valued at $12,851,055. Corporate insiders own 18.70% of the company’s stock.

Loews Company 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.