Donald Smith & CO. Inc. Cuts Position in Loews Co. (NYSE:L)

Donald Smith & CO. Inc. lessened its holdings in Loews Co. (NYSE:L) by 17.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 589,116 shares of the insurance provider’s stock after selling 125,951 shares during the period. Donald Smith & CO. Inc. owned 0.26% of Loews worth $40,997,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in L. Assenagon Asset Management S.A. grew its stake in Loews by 316.1% during the third quarter. Assenagon Asset Management S.A. now owns 580,107 shares of the insurance provider’s stock worth $36,727,000 after buying an additional 440,693 shares during the period. The Manufacturers Life Insurance Company boosted its position in Loews by 118.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 286,708 shares of the insurance provider’s stock valued at $18,151,000 after purchasing an additional 155,713 shares during the period. Barclays PLC increased its stake in shares of Loews by 34.9% in the third quarter. Barclays PLC now owns 577,591 shares of the insurance provider’s stock valued at $36,568,000 after purchasing an additional 149,500 shares during the period. Bank of Nova Scotia increased its stake in Loews by 115.4% during the 3rd quarter. Bank of Nova Scotia now owns 270,421 shares of the insurance provider’s stock worth $17,120,000 after purchasing an additional 144,902 shares in the last quarter. Finally, Jump Financial LLC lifted its stake in Loews by 3,984.2% in the 3rd quarter. Jump Financial LLC now owns 146,910 shares of the insurance provider’s stock valued at $9,301,000 after acquiring an additional 143,313 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Stock Up 0.5 %

L traded up $0.36 during trading on Monday, reaching $75.82. 599,379 shares of the stock were exchanged, compared to its average volume of 752,082. Loews Co. has a twelve month low of $55.94 and a twelve month high of $78.55. The stock has a market cap of $16.85 billion, a P/E ratio of 12.03 and a beta of 0.83. The stock’s 50 day moving average price is $75.74 and its two-hundred day moving average price is $71.37. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.32 and a current ratio of 0.32.

Loews (NYSE:L) last released its earnings results on Monday, February 5th. The insurance provider reported $1.99 earnings per share for the quarter. The business had revenue of $4.26 billion during the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Wednesday, February 21st were paid a $0.0625 dividend. The ex-dividend date was Tuesday, February 20th. This represents a $0.25 annualized dividend and a yield of 0.33%. Loews’s dividend payout ratio is currently 3.97%.

Insider Transactions at Loews

In related news, Director Andrew H. Tisch sold 125,000 shares of Loews stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total value of $9,130,000.00. Following the transaction, the director now directly owns 945,886 shares of the company’s stock, valued at $69,087,513.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Jonathan M. Tisch sold 4,287 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $71.91, for a total value of $308,278.17. Following the sale, the insider now directly owns 106,870 shares in the company, valued at approximately $7,685,021.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andrew H. Tisch sold 125,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $73.04, for a total transaction of $9,130,000.00. Following the completion of the sale, the director now directly owns 945,886 shares of the company’s stock, valued at approximately $69,087,513.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,563 shares of company stock valued at $10,052,551. 18.70% of the stock is owned by corporate insiders.

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.