J.W. Cole Advisors Inc. purchased a new stake in Loews Co. (NYSE:L – Get Rating) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,394 shares of the insurance provider's stock, valued at approximately $220,000.
Other hedge funds have also made changes to their positions in the company. Verition Fund Management LLC acquired a new position in Loews in the 1st quarter valued at approximately $1,000,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Loews by 34.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,605 shares of the insurance provider's stock valued at $1,076,000 after buying an additional 4,267 shares during the period. Reynolds Investment Management Inc. acquired a new position in Loews in the 1st quarter valued at approximately $1,183,000. The Manufacturers Life Insurance Company increased its stake in Loews by 1.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 160,990 shares of the insurance provider's stock valued at $10,435,000 after buying an additional 2,225 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in Loews by 8.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 137,916 shares of the insurance provider's stock valued at $8,940,000 after buying an additional 10,832 shares during the period. Hedge funds and other institutional investors own 58.61% of the company's stock.
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Wall Street Analyst Weigh In
Several research firms have weighed in on L. TheStreet lowered shares of Loews from a "b" rating to a "c" rating in a research note on Monday, August 1st. StockNews.com lowered shares of Loews from a "buy" rating to a "hold" rating in a research note on Wednesday, August 3rd.
Insider Buying and Selling
In other news, major shareholder Corp Loews acquired 76,954 shares of the firm's stock in a transaction that occurred on Monday, September 19th. The stock was acquired at an average cost of $39.26 per share, with a total value of $3,021,214.04. Following the acquisition, the insider now owns 243,806,709 shares in the company, valued at $9,571,851,395.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through
this link. In the last three months, insiders bought 274,630 shares of company stock valued at $10,802,190. Company insiders own 17.50% of the company's stock.
Loews Stock Performance
Shares of L opened at $52.88 on Thursday. The company's fifty day moving average is $56.52 and its 200-day moving average is $60.46. Loews Co. has a 12 month low of $52.32 and a 12 month high of $68.20. The firm has a market cap of $12.74 billion, a price-to-earnings ratio of 12.27 and a beta of 0.81. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.52.
Loews Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 30th. Investors of record on Wednesday, August 17th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Tuesday, August 16th. Loews's dividend payout ratio is currently 5.80%.
About Loews
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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 property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto and umbrella coverages.
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