Brown Brothers Harriman & Co. Sells 4,000 Shares of Loews Co. (NYSE:L)

Brown Brothers Harriman & Co. reduced its holdings in shares of Loews Co. (NYSE:L) by 42.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,460 shares of the insurance provider’s stock after selling 4,000 shares during the period. Brown Brothers Harriman & Co.’s holdings in Loews were worth $432,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in shares of 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 buying an additional 69,459 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Loews by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider’s stock valued at $199,858,000 after buying an additional 161,810 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Loews by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock valued at $127,409,000 after buying an additional 8,615 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Loews by 5.8% in the second quarter. AQR Capital Management LLC now owns 820,800 shares of the insurance provider’s stock valued at $61,347,000 after buying an additional 45,237 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Loews by 5.0% in the second quarter. Hsbc Holdings PLC now owns 692,116 shares of the insurance provider’s stock valued at $51,750,000 after buying an additional 33,125 shares in the last quarter. 58.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

L has been the subject of a number of research analyst reports. StockNews.com cut shares of Loews from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Jefferies Financial Group reduced their price objective on shares of Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st.

Insider Transactions at Loews

In related news, Director Andrew H. Tisch sold 50,000 shares of the business’s stock in a transaction dated 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 owns 11,939,677 shares of the company’s stock, valued at $994,097,507.02. The trade was a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan M. Tisch sold 62,500 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $80.84, for a total value of $5,052,500.00. Following the completion of the transaction, the insider now directly owns 6,781,634 shares of the company’s stock, valued at approximately $548,227,292.56. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 213,587 shares of company stock valued at $17,586,460. 18.70% of the stock is currently owned by corporate insiders.

Loews Stock Up 0.6 %

L opened at $87.05 on Thursday. Loews Co. has a fifty-two week low of $67.20 and a fifty-two week high of $87.45. 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 capitalization of $18.96 billion, a P/E ratio of 11.56 and a beta of 0.82. The stock has a fifty day moving average of $80.88 and a 200-day moving average of $78.58.

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 dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend is Wednesday, November 27th. Loews’s dividend payout ratio is currently 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.