Principal Financial Group Inc. Acquires 7,149 Shares of Loews Co. (NYSE:L)

Principal Financial Group Inc. increased its stake in shares of Loews Co. (NYSE:L) by 3.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 248,665 shares of the insurance provider’s stock after acquiring an additional 7,149 shares during the quarter. Principal Financial Group Inc.’s holdings in Loews were worth $19,657,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. QRG Capital Management Inc. increased its stake in Loews by 3.0% during the third quarter. QRG Capital Management Inc. now owns 117,052 shares of the insurance provider’s stock valued at $9,253,000 after acquiring an additional 3,395 shares during the period. National Pension Service grew its holdings in shares of Loews by 6.0% during the 3rd quarter. National Pension Service now owns 369,682 shares of the insurance provider’s stock worth $29,223,000 after purchasing an additional 21,038 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Loews by 22.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 569,156 shares of the insurance provider’s stock valued at $44,992,000 after purchasing an additional 105,810 shares during the period. BSW Wealth Partners acquired a new position in shares of Loews in the third quarter valued at $212,000. Finally, Janney Montgomery Scott LLC lifted its position in Loews by 26.4% in the third quarter. Janney Montgomery Scott LLC now owns 27,462 shares of the insurance provider’s stock worth $2,171,000 after purchasing an additional 5,742 shares during the period. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Jonathan M. Tisch sold 62,500 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $80.84, for a total value of $5,052,500.00. Following the completion of the sale, the insider now directly owns 6,781,634 shares in the company, valued at approximately $548,227,292.56. This trade represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ann E. Berman sold 1,087 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total transaction of $88,460.06. Following the transaction, the director now owns 4,998 shares in the company, valued at approximately $406,737.24. This trade represents a 17.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 163,587 shares of company stock worth $13,423,460 in the last quarter. 18.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on L shares. StockNews.com raised shares of Loews from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Jefferies Financial Group decreased their target price on shares of Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada raised shares of Loews to a “moderate buy” rating in a research report on Friday, July 26th.

Loews Price Performance

Shares of L stock opened at $82.80 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. The stock’s fifty day simple moving average is $79.71 and its 200 day simple moving average is $78.01. Loews Co. has a one year low of $66.16 and a one year high of $84.56. The firm has a market cap of $18.03 billion, a price-to-earnings ratio of 11.02 and a beta of 0.82.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Wednesday, November 27th. Loews’s payout ratio is 3.32%.

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.