Loews Co. (NYSE:L) Shares Acquired by Vinva Investment Management Ltd

Vinva Investment Management Ltd raised its holdings in shares of Loews Co. (NYSE:L) by 251.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 61,646 shares of the insurance provider’s stock after buying an additional 44,123 shares during the quarter. Vinva Investment Management Ltd’s holdings in Loews were worth $4,864,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc lifted its holdings in shares of Loews by 244.0% in the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 266 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Loews in the 3rd quarter valued at about $40,000. Kimelman & Baird LLC purchased a new stake in shares of Loews in the 2nd quarter valued at about $45,000. Family Firm Inc. purchased a new stake in shares of Loews in the 2nd quarter valued at about $46,000. Finally, Eastern Bank purchased a new stake in Loews during the 3rd quarter valued at approximately $47,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Loews

In other Loews news, Director Ann E. Berman sold 1,087 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total transaction of $88,460.06. Following the sale, the director now owns 4,998 shares in the company, valued at approximately $406,737.24. This represents a 17.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan M. Tisch sold 62,500 shares of the stock in a transaction on 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 sale, the insider now owns 6,781,634 shares in the company, 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. In the last three months, insiders sold 213,587 shares of company stock valued at $17,586,460. Corporate insiders own 18.70% of the company’s stock.

Loews Stock Performance

Shares of L stock opened at $87.05 on Friday. The company has a market cap of $18.96 billion, a price-to-earnings ratio of 11.56 and a beta of 0.82. The stock has a 50 day simple moving average of $81.04 and a 200-day simple moving average of $78.64. Loews Co. has a 12-month low of $67.20 and a 12-month high of $87.45. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th will be paid 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 (DPR) is 3.32%.

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.

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.