Millstone Evans Group LLC Invests $98,000 in Loews Co. (NYSE:L)

Millstone Evans Group LLC bought a new position in shares of Loews Co. (NYSE:L) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,154 shares of the insurance provider’s stock, valued at approximately $98,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in L. Halbert Hargrove Global Advisors LLC bought a new stake in Loews in the 4th quarter worth about $26,000. Brooklyn Investment Group bought a new stake in Loews in the 3rd quarter worth about $40,000. Wilmington Savings Fund Society FSB bought a new stake in Loews in the 3rd quarter worth about $49,000. Human Investing LLC bought a new stake in Loews in the 4th quarter worth about $51,000. Finally, Intact Investment Management Inc. bought a new stake in Loews in the 4th quarter worth about $68,000. 58.33% of the stock is owned by institutional investors.

Insider Activity at Loews

In related news, Director Jonathan M. Tisch sold 47,636 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the sale, the director now directly owns 6,705,529 shares in the company, valued at approximately $569,165,301.52. This represents a 0.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Andrew H. Tisch sold 7,533 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total transaction of $635,408.55. Following the completion of the sale, the director now owns 1,568,191 shares in the company, valued at $132,276,910.85. This represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 158,860 shares of company stock worth $13,486,463. 18.70% of the stock is owned by corporate insiders.

Loews Stock Down 1.1 %

Loews stock opened at $87.22 on Friday. Loews Co. has a twelve month low of $72.91 and a twelve month high of $88.66. The firm has a 50 day moving average price of $85.23 and a 200-day moving average price of $83.06. The company has a market capitalization of $18.57 billion, a P/E ratio of 13.63 and a beta of 0.80. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50.

Loews (NYSE:L) last released its earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were 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 was Wednesday, February 26th. Loews’s payout ratio is currently 3.91%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Loews from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

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.