ProShare Advisors LLC Has $4.78 Million Stake in Loews Co. (NYSE:L)

ProShare Advisors LLC lifted its stake in shares of Loews Co. (NYSE:L) by 5.6% during the fourth quarter, Holdings Channel reports. The fund owned 56,480 shares of the insurance provider’s stock after buying an additional 2,988 shares during the quarter. ProShare Advisors LLC’s holdings in Loews were worth $4,783,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp raised its holdings 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 valued at $109,067,000 after purchasing an additional 77,386 shares during the period. Fidelis Capital Partners LLC bought a new stake in Loews in the 4th quarter valued at about $440,000. Y Intercept Hong Kong Ltd acquired a new position in Loews during the 4th quarter worth approximately $425,000. Steward Partners Investment Advisory LLC raised its stake in Loews by 13.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,433 shares of the insurance provider’s stock worth $206,000 after buying an additional 288 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in Loews by 14.8% in the fourth quarter. Prudential Financial Inc. now owns 162,256 shares of the insurance provider’s stock worth $13,741,000 after acquiring an additional 20,874 shares in the last quarter. 58.33% of the stock is owned by institutional investors.

Insider Activity at Loews

In other Loews news, SVP Richard Waldo Scott sold 9,019 shares of the company’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $87.92, for a total value of $792,950.48. Following the completion of the transaction, the senior vice president now owns 33,901 shares in the company, valued at $2,980,575.92. This represents a 21.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan M. Tisch sold 50,000 shares of Loews stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $84.66, for a total value of $4,233,000.00. Following the sale, the director now owns 6,755,529 shares in the company, valued at $571,923,085.14. The trade was a 0.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 156,655 shares of company stock valued at $13,323,294 over the last 90 days. Insiders own 19.00% of the company’s stock.

Loews Stock Performance

L opened at $89.39 on Tuesday. Loews Co. has a 1-year low of $73.15 and a 1-year high of $92.42. The company has a market cap of $18.74 billion, a price-to-earnings ratio of 13.97 and a beta of 0.70. The company’s fifty day moving average price is $87.07 and its two-hundred day moving average price is $85.36. 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 (NYSE:L) last announced its quarterly earnings results on Monday, May 5th. The insurance provider reported $1.74 earnings per share for the quarter. The business had revenue of $4.49 billion 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 announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be issued a $0.0625 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.28%. Loews’s dividend payout ratio is presently 4.11%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Loews from a “hold” rating to a “buy” rating in a research report on Tuesday, May 6th.

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.