SVB Wealth LLC Has $270,000 Stake in Loews Co. (NYSE:L)

SVB Wealth LLC trimmed its position in shares of Loews Co. (NYSE:L) by 8.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,883 shares of the insurance provider’s stock after selling 356 shares during the period. SVB Wealth LLC’s holdings in Loews were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its holdings in shares of Loews by 316.1% in the third quarter. Assenagon Asset Management S.A. now owns 580,107 shares of the insurance provider’s stock valued at $36,727,000 after purchasing an additional 440,693 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Loews by 118.9% in the third 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 last quarter. Barclays PLC increased its holdings 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 last quarter. Bank of Nova Scotia increased its holdings in shares of Loews by 115.4% in the third quarter. Bank of Nova Scotia now owns 270,421 shares of the insurance provider’s stock valued at $17,120,000 after purchasing an additional 144,902 shares during the last quarter. Finally, Jump Financial LLC increased its holdings in shares of Loews by 3,984.2% in the third quarter. Jump Financial LLC now owns 146,910 shares of the insurance provider’s stock valued at $9,301,000 after purchasing an additional 143,313 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 completion of the sale, the insider now owns 106,870 shares of the company’s stock, valued at $7,685,021.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Jonathan M. Tisch sold 4,287 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $71.91, for a total transaction of $308,278.17. Following the completion of the sale, the insider now owns 106,870 shares of the company’s stock, valued at $7,685,021.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard Waldo Scott sold 7,325 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $74.12, for a total transaction of $542,929.00. Following the sale, the senior vice president now directly owns 51,965 shares of the company’s stock, valued at approximately $3,851,645.80. 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 company insiders.

Loews Price Performance

NYSE:L opened at $76.48 on Tuesday. Loews Co. has a one year low of $55.31 and a one year high of $78.55. The company has a market cap of $16.99 billion, a P/E ratio of 12.14 and a beta of 0.83. The firm’s fifty day moving average price is $75.55 and its two-hundred day moving average price is $71.01. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.32 and a quick ratio of 0.32.

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

Loews Dividend Announcement

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

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.