Fidelis Capital Partners LLC Purchases New Holdings in Loews Co. (NYSE:L)

Fidelis Capital Partners LLC acquired a new stake in shares of Loews Co. (NYSE:L) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,154 shares of the insurance provider’s stock, valued at approximately $440,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of Loews by 1.0% during the third quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock worth $638,506,000 after purchasing an additional 82,581 shares during the last quarter. Geode Capital Management LLC increased its stake in Loews by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider’s stock valued at $336,005,000 after buying an additional 53,428 shares during the period. Allspring Global Investments Holdings LLC raised its position in Loews by 0.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider’s stock worth $268,640,000 after buying an additional 8,750 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Loews by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock worth $127,409,000 after acquiring an additional 8,615 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Loews by 6.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider’s stock valued at $109,067,000 after acquiring an additional 77,386 shares in the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Loews

In other Loews news, Director Jonathan M. Tisch sold 3,691 shares of Loews stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $86.89, for a total transaction of $320,710.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan M. Tisch sold 50,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the completion of the sale, the director now owns 7,105,529 shares in the company, valued at $604,538,407.32. This represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 61,224 shares of company stock valued at $5,210,120 in the last ninety days. Corporate insiders own 18.70% of the company’s stock.

Wall Street Analyst Weigh In

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

Loews Stock Down 2.3 %

Loews stock opened at $85.15 on Wednesday. The stock’s 50 day moving average price is $84.68 and its 200 day moving average price is $82.58. Loews Co. has a 1-year low of $72.91 and a 1-year high of $88.29. The company has a market cap of $18.13 billion, a PE ratio of 13.31 and a beta of 0.83. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34.

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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th will be given a dividend of $0.0625 per share. The ex-dividend date is Wednesday, February 26th. This represents a $0.25 annualized dividend and a yield of 0.29%. Loews’s payout ratio is currently 3.91%.

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.