CIBC Asset Management Inc Buys 1,151 Shares of Loews Co. (NYSE:L)

CIBC Asset Management Inc increased its stake in shares of Loews Co. (NYSE:L) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,007 shares of the insurance provider’s stock after buying an additional 1,151 shares during the quarter. CIBC Asset Management Inc’s holdings in Loews were worth $5,581,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of L. Wedmont Private Capital raised its position in Loews by 5.2% in the 4th quarter. Wedmont Private Capital now owns 3,065 shares of the insurance provider’s stock valued at $249,000 after purchasing an additional 151 shares during the last quarter. Summit Trail Advisors LLC raised its position in Loews by 2.6% in the 3rd quarter. Summit Trail Advisors LLC now owns 6,038 shares of the insurance provider’s stock valued at $477,000 after purchasing an additional 153 shares during the last quarter. Mather Group LLC. raised its position in Loews by 7.7% in the 4th quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider’s stock valued at $190,000 after purchasing an additional 161 shares during the last quarter. Perigon Wealth Management LLC raised its position in Loews by 5.9% in the 4th quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider’s stock valued at $285,000 after purchasing an additional 183 shares during the last quarter. Finally, Ballentine Partners LLC raised its position in Loews by 5.2% in the 3rd quarter. Ballentine Partners LLC now owns 3,772 shares of the insurance provider’s stock valued at $298,000 after purchasing an additional 187 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Loews Stock Down 0.3 %

NYSE L opened at $83.22 on Thursday. The stock has a fifty day moving average of $84.44 and a 200-day moving average of $82.06. The stock has a market capitalization of $17.71 billion, a P/E ratio of 13.00 and a beta of 0.83. Loews Co. has a 52 week low of $72.91 and a 52 week high of $88.29. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34.

Loews (NYSE:L) last announced its quarterly earnings data 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.30%. Loews’s dividend payout ratio (DPR) is presently 3.91%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Loews news, Director Jonathan M. Tisch sold 3,691 shares of Loews stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $86.89, for a total transaction of $320,710.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Charles M. Diker sold 1,146 shares of Loews stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $86.83, for a total value of $99,507.18. Following the transaction, the director now owns 19,906 shares in the company, valued at approximately $1,728,437.98. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,370 shares of company stock valued at $1,055,627 over the last three months. Company insiders own 18.70% of the company’s stock.

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.