Peapack Gladstone Financial Corp Lowers Stock Holdings in Loews Co. (NYSE:L)

Peapack Gladstone Financial Corp reduced its position in shares of Loews Co. (NYSE:L) by 5.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,367 shares of the insurance provider’s stock after selling 289 shares during the period. Peapack Gladstone Financial Corp’s holdings in Loews were worth $455,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Venturi Wealth Management LLC raised its holdings in Loews by 10.6% in the 4th quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider’s stock valued at $105,000 after acquiring an additional 119 shares during the last quarter. Wedmont Private Capital grew its holdings 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 buying an additional 151 shares during the period. Mather Group LLC. lifted its holdings in shares of Loews by 7.7% during the 4th quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider’s stock worth $190,000 after acquiring an additional 161 shares during the period. Perigon Wealth Management LLC grew its holdings in Loews by 5.9% in the fourth 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 period. Finally, Aaron Wealth Advisors LLC increased its position in Loews by 5.8% during the fourth quarter. Aaron Wealth Advisors LLC now owns 3,568 shares of the insurance provider’s stock worth $302,000 after purchasing an additional 196 shares during the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Loews Stock Up 6.0 %

Shares of NYSE:L opened at $86.32 on Thursday. Loews Co. has a 1 year low of $72.91 and a 1 year high of $92.42. The stock has a 50-day simple moving average of $85.99 and a 200-day simple moving average of $83.92. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a market capitalization of $18.16 billion, a P/E ratio of 13.49 and a beta of 0.60.

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 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 was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews’s payout ratio is 3.91%.

Insider Activity

In other news, Director Jonathan M. Tisch sold 3,691 shares of the business’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan M. Tisch sold 47,636 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $84.88, for a total value of $4,043,343.68. Following the sale, the director now owns 6,705,529 shares in the company, valued at $569,165,301.52. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 151,327 shares of company stock worth $12,851,055. 18.70% of the stock is currently owned by corporate insiders.

Loews Company 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.