Anchor Investment Management LLC Reduces Position in Loews Co. (NYSE:L)

Anchor Investment Management LLC decreased its holdings in shares of Loews Co. (NYSE:L) by 10.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,300 shares of the insurance provider’s stock after selling 950 shares during the quarter. Anchor Investment Management LLC’s holdings in Loews were worth $656,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of L. Brooklyn Investment Group purchased a new stake in shares of Loews in the third quarter valued at approximately $40,000. Eastern Bank bought a new stake in Loews during the 3rd quarter valued at $47,000. Kimelman & Baird LLC purchased a new stake in shares of Loews in the 2nd quarter worth $45,000. Family Firm Inc. bought a new position in shares of Loews during the 2nd quarter worth $46,000. Finally, Innealta Capital LLC purchased a new position in shares of Loews during the second quarter valued at $51,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Loews Stock Performance

L opened at $83.95 on Friday. The firm’s 50-day moving average price is $82.29 and its 200-day moving average price is $79.24. The company has a market cap of $18.28 billion, a P/E ratio of 11.15 and a beta of 0.83. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48. Loews Co. has a 52-week low of $67.20 and a 52-week high of $87.45.

Loews Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th were given a dividend of $0.0625 per share. The ex-dividend date was Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a yield of 0.30%. Loews’s dividend payout ratio is currently 3.32%.

Insider Buying and Selling at Loews

In other news, Director Andrew H. Tisch sold 50,000 shares of the company’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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles M. Diker sold 1,146 shares of Loews stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total value of $99,507.18. Following the transaction, the director now owns 19,906 shares of the company’s stock, valued at approximately $1,728,437.98. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,146 shares of company stock worth $10,499,507. 18.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.