Horizon Kinetics Asset Management LLC Reduces Stock Holdings in Loews Co. (NYSE:L)

Horizon Kinetics Asset Management LLC lowered its holdings in shares of Loews Co. (NYSE:L) by 4.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,541 shares of the insurance provider’s stock after selling 230 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Loews were worth $438,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in L. Versant Capital Management Inc increased its holdings in Loews by 244.0% during the second quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock valued at $28,000 after buying an additional 266 shares during the last quarter. Kimelman & Baird LLC bought a new position in Loews in the 2nd quarter worth $45,000. Family Firm Inc. purchased a new position in Loews during the second quarter valued at $46,000. Eastern Bank bought a new stake in Loews during the third quarter valued at about $47,000. Finally, Innealta Capital LLC purchased a new stake in Loews in the second quarter worth about $51,000. Institutional investors own 58.33% of the company’s stock.

Insider Transactions at Loews

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $83.26, for a total transaction of $4,163,000.00. Following the completion of the transaction, the director now owns 11,939,677 shares in the company, valued at $994,097,507.02. This trade represents a 0.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ann E. Berman sold 1,087 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total value of $88,460.06. Following the sale, the director now directly owns 4,998 shares in the company, valued at $406,737.24. This trade represents a 17.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,587 shares of company stock valued at $17,586,460. 18.70% of the stock is currently owned by corporate insiders.

Loews Stock Performance

NYSE L opened at $85.82 on Tuesday. The business has a 50-day moving average price of $80.58 and a 200-day moving average price of $78.46. 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 twelve month low of $67.20 and a twelve month high of $86.90. The firm has a market cap of $18.69 billion, a price-to-earnings ratio of 11.40 and a beta of 0.82.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend is Wednesday, November 27th. Loews’s payout ratio is currently 3.32%.

Analysts Set New Price Targets

L has been the topic of a number of analyst reports. Jefferies Financial Group lowered their price objective on Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. StockNews.com lowered shares of Loews from a “strong-buy” rating to a “buy” rating in a research report 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.