Securian Asset Management Inc. Sells 288 Shares of Loews Co. (NYSE:L)

Securian Asset Management Inc. lowered its stake in shares of Loews Co. (NYSE:L) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,641 shares of the insurance provider’s stock after selling 288 shares during the quarter. Securian Asset Management Inc.’s holdings in Loews were worth $816,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in L. Sumitomo Mitsui Trust Group Inc. boosted its position in Loews by 1.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 509,349 shares of the insurance provider’s stock worth $40,264,000 after purchasing an additional 5,655 shares during the period. KBC Group NV boosted its position in shares of Loews by 1.6% in the third quarter. KBC Group NV now owns 62,785 shares of the insurance provider’s stock valued at $4,963,000 after acquiring an additional 999 shares during the period. CIBC Asset Management Inc boosted its position in shares of Loews by 1.7% in the third quarter. CIBC Asset Management Inc now owns 64,856 shares of the insurance provider’s stock valued at $5,120,000 after acquiring an additional 1,105 shares during the period. Empowered Funds LLC boosted its position in shares of Loews by 7.2% in the third quarter. Empowered Funds LLC now owns 2,990 shares of the insurance provider’s stock valued at $236,000 after acquiring an additional 200 shares during the period. Finally, Natixis Advisors LLC boosted its position in shares of Loews by 5.6% in the third quarter. Natixis Advisors LLC now owns 68,620 shares of the insurance provider’s stock valued at $5,424,000 after acquiring an additional 3,612 shares during the period. Institutional investors own 58.33% of the company’s stock.

Loews Stock Performance

Shares of NYSE L opened at $86.56 on Friday. The business has a fifty day simple moving average of $84.75 and a 200 day simple moving average of $82.86. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $18.43 billion, a price-to-earnings ratio of 13.53 and a beta of 0.80. Loews Co. has a one year low of $72.91 and a one year high of $88.29.

Loews (NYSE:L) last issued its earnings results 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a $0.0625 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. Loews’s payout ratio is 3.91%.

Insider Activity at Loews

In other Loews news, Director Andrew H. Tisch sold 7,533 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total transaction of $635,408.55. Following the completion of the transaction, the director now directly owns 1,568,191 shares in the company, valued at $132,276,910.85. This represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan M. Tisch sold 47,636 shares of the stock in a transaction 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 owns 6,705,529 shares of the company’s stock, valued at $569,165,301.52. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 158,860 shares of company stock worth $13,486,463. 18.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

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.