Hedges Asset Management LLC Reduces Position in Loews Co. (NYSE:L)

Hedges Asset Management LLC decreased its holdings in Loews Co. (NYSE:L) by 11.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,500 shares of the insurance provider’s stock after selling 2,500 shares during the period. Hedges Asset Management LLC’s holdings in Loews were worth $1,567,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in shares of Loews in the third quarter worth about $40,000. Eastern Bank purchased a new stake in Loews in the 3rd quarter worth approximately $47,000. Kimelman & Baird LLC bought a new position in Loews in the 2nd quarter valued at $45,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Loews during the 3rd quarter valued at $49,000. Finally, Quest Partners LLC purchased a new stake in shares of Loews in the third quarter worth $129,000. Institutional investors own 58.33% of the company’s stock.

Insider Transactions at Loews

In related news, Director Charles M. Diker sold 1,146 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total transaction of $99,507.18. Following the completion of the transaction, the director now owns 19,906 shares in the company, valued at $1,728,437.98. This represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew H. Tisch sold 50,000 shares of the firm’s stock in a transaction on 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 sale, the director now directly 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,679 shares of company stock worth $11,134,916. Company insiders own 18.70% of the company’s stock.

Loews Trading Down 0.6 %

Shares of L stock opened at $83.95 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48. The firm has a market cap of $18.28 billion, a P/E ratio of 11.15 and a beta of 0.83. The business has a 50-day moving average price of $84.58 and a two-hundred day moving average price of $81.10. Loews Co. has a 12-month low of $71.45 and a 12-month high of $87.45.

Loews (NYSE:L) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.82 earnings per share (EPS) for the quarter. The business had revenue of $4.47 billion during the quarter. Loews had a return on equity of 9.70% and a net margin of 9.71%.

Loews Dividend Announcement

The firm 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 annualized dividend and a yield of 0.30%. Loews’s payout ratio is 3.32%.

Analyst Upgrades and Downgrades

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

Loews Company 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.