Bank of Montreal Can Has $21.14 Million Stake in Loews Co. (NYSE:L)

Bank of Montreal Can lessened its holdings in shares of Loews Co. (NYSE:L) by 24.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,631 shares of the insurance provider’s stock after selling 82,578 shares during the period. Bank of Montreal Can owned approximately 0.11% of Loews worth $21,141,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of L. Miracle Mile Advisors LLC acquired a new stake in Loews during the 4th quarter worth approximately $315,000. Nordea Investment Management AB increased its position in shares of Loews by 7.5% during the fourth quarter. Nordea Investment Management AB now owns 15,619 shares of the insurance provider’s stock worth $1,323,000 after acquiring an additional 1,085 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Loews by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider’s stock worth $109,067,000 after acquiring an additional 77,386 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Loews during the fourth quarter worth $440,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Loews in the 4th quarter valued at $425,000. Institutional investors own 58.33% of the company’s stock.

Loews Trading Up 0.3 %

NYSE:L opened at $84.61 on Friday. The company has a quick ratio of 0.34, a current 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 company has a market cap of $17.80 billion, a P/E ratio of 13.22 and a beta of 0.60. The business has a 50 day moving average price of $85.95 and a two-hundred day moving average price of $84.01.

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

Loews Dividend Announcement

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

Insider Buying and Selling

In related news, Director Jonathan M. Tisch sold 3,691 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan M. Tisch sold 47,636 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $84.88, for a total value of $4,043,343.68. Following the transaction, the director now directly owns 6,705,529 shares in the company, 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 quarter, insiders have sold 151,327 shares of company stock worth $12,851,055. Corporate insiders own 18.70% of the company’s stock.

Analysts Set New Price Targets

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

About Loews

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.