Donald Smith & CO. Inc. Reduces Stock Position in Loews Co. (NYSE:L)

Donald Smith & CO. Inc. lowered its position in Loews Co. (NYSE:L) by 17.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 589,116 shares of the insurance provider’s stock after selling 125,951 shares during the quarter. Donald Smith & CO. Inc.’s holdings in Loews were worth $40,997,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Chase Investment Counsel Corp grew its position in Loews by 0.5% during the 4th quarter. Chase Investment Counsel Corp now owns 36,553 shares of the insurance provider’s stock worth $2,543,000 after purchasing an additional 190 shares during the last quarter. PGGM Investments grew its holdings in shares of Loews by 7.5% during the fourth quarter. PGGM Investments now owns 172,884 shares of the insurance provider’s stock worth $12,031,000 after buying an additional 12,047 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Loews by 15.9% during the 4th quarter. Russell Investments Group Ltd. now owns 116,377 shares of the insurance provider’s stock valued at $8,097,000 after acquiring an additional 15,968 shares during the period. Bryn Mawr Capital Management LLC purchased a new stake in Loews in the 4th quarter valued at approximately $219,000. Finally, Tokio Marine Asset Management Co. Ltd. lifted its holdings in Loews by 4.3% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,839 shares of the insurance provider’s stock worth $337,000 after buying an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Stock Performance

L stock traded up $0.36 during mid-day trading on Monday, reaching $75.82. The company had a trading volume of 599,379 shares, compared to its average volume of 752,082. Loews Co. has a one year low of $55.94 and a one year high of $78.55. The stock has a market capitalization of $16.85 billion, a P/E ratio of 12.03 and a beta of 0.83. The stock’s 50-day simple moving average is $75.74 and its two-hundred day simple moving average is $71.37. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.48.

Loews (NYSE:L) last posted its quarterly earnings results on Monday, February 5th. The insurance provider reported $1.99 EPS for the quarter. The business had revenue of $4.26 billion during the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Wednesday, February 21st were paid a dividend of $0.0625 per share. The ex-dividend date was Tuesday, February 20th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.33%. Loews’s dividend payout ratio (DPR) is presently 3.97%.

Insiders Place Their Bets

In other news, Director Paul J. Fribourg sold 951 shares of Loews stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $75.02, for a total transaction of $71,344.02. Following the completion of the transaction, the director now directly owns 21,200 shares in the company, valued at approximately $1,590,424. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Paul J. Fribourg sold 951 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $75.02, for a total value of $71,344.02. Following the completion of the transaction, the director now directly owns 21,200 shares in the company, valued at approximately $1,590,424. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew H. Tisch sold 125,000 shares of Loews stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total value of $9,130,000.00. Following the completion of the transaction, the director now owns 945,886 shares in the company, valued at approximately $69,087,513.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,563 shares of company stock worth $10,052,551. Company insiders own 18.70% of the company’s stock.

Loews 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.