Toronto Dominion Bank Grows Position in Loews Co. (NYSE:L)

Toronto Dominion Bank grew its stake in Loews Co. (NYSE:L) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,478 shares of the insurance provider’s stock after buying an additional 1,570 shares during the quarter. Toronto Dominion Bank’s holdings in Loews were worth $7,310,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Nisa Investment Advisors LLC lifted its stake in shares of Loews by 8.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 122,208 shares of the insurance provider’s stock valued at $9,134,000 after buying an additional 9,296 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position 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 acquiring an additional 8,615 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of Loews by 8.0% in the third quarter. Intech Investment Management LLC now owns 137,566 shares of the insurance provider’s stock worth $10,875,000 after acquiring an additional 10,213 shares during the period. Swedbank AB grew its position in shares of Loews by 8.8% during the third quarter. Swedbank AB now owns 379,647 shares of the insurance provider’s stock worth $30,011,000 after purchasing an additional 30,600 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Loews by 47.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 37,319 shares of the insurance provider’s stock valued at $2,950,000 after purchasing an additional 12,070 shares during the period. Institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling

In other news, Director Charles M. Diker sold 1,146 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $86.83, for a total value of $99,507.18. Following the sale, the director now directly owns 19,906 shares in the company, valued at $1,728,437.98. The trade was a 5.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $83.26, for a total transaction of $4,163,000.00. Following the sale, the director now owns 11,939,677 shares in the company, valued at $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. Over the last three months, insiders have sold 126,146 shares of company stock worth $10,499,507. Corporate insiders own 18.70% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Loews from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th.

Loews Stock Performance

Shares of NYSE L opened at $84.18 on Friday. The company has a market cap of $18.33 billion, a P/E ratio of 11.18 and a beta of 0.83. Loews Co. has a 52-week low of $67.20 and a 52-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 firm’s fifty day moving average is $82.50 and its two-hundred day moving average is $79.38.

Loews Announces Dividend

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

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.