Pacer Advisors Inc. Has $4.03 Million Stock Position in Loews Co. (NYSE:L)

Pacer Advisors Inc. lessened its holdings in Loews Co. (NYSE:L) by 37.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,601 shares of the insurance provider’s stock after selling 28,455 shares during the quarter. Pacer Advisors Inc.’s holdings in Loews were worth $4,031,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp raised its holdings in Loews by 1.0% in the 3rd quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock valued at $638,506,000 after acquiring an additional 82,581 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Loews by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider’s stock worth $336,005,000 after purchasing an additional 53,428 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Loews by 2.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,183,138 shares of the insurance provider’s stock valued at $251,627,000 after purchasing an additional 69,459 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Loews by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock worth $127,409,000 after purchasing an additional 8,615 shares during the period. Finally, Barclays PLC grew its stake in Loews by 13.1% during the third quarter. Barclays PLC now owns 752,380 shares of the insurance provider’s stock worth $59,473,000 after buying an additional 87,259 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Trading Up 0.2 %

Shares of L stock opened at $86.20 on Friday. Loews Co. has a fifty-two week low of $71.45 and a fifty-two week high of $87.45. The stock’s fifty day moving average price is $84.73 and its two-hundred day moving average price is $81.44. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market cap of $18.77 billion, a PE ratio of 11.45 and a beta of 0.83.

Loews (NYSE:L) last released its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.82 earnings per share for the quarter. The business had revenue of $4.47 billion for the quarter. Loews had a return on equity of 9.70% and a net margin of 9.71%.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 27th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Wednesday, November 27th. Loews’s dividend payout ratio is 3.32%.

Insider Activity at Loews

In other Loews news, 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 transaction of $99,507.18. Following the transaction, the director now directly owns 19,906 shares of the company’s stock, valued at approximately $1,728,437.98. The trade was a 5.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $83.26, for a total value of $4,163,000.00. Following the completion of the transaction, the director now directly owns 11,939,677 shares in the company, valued at approximately $994,097,507.02. This represents a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,679 shares of company stock valued at $11,134,916 in the last quarter. Insiders own 18.70% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Loews from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th.

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.