Loews Co. (NYSE:L) Stake Trimmed by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its position in shares of Loews Co. (NYSE:L) by 22.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 89,529 shares of the insurance provider’s stock after selling 25,573 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Loews were worth $7,582,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in Loews during the 3rd quarter worth about $40,000. Kimelman & Baird LLC acquired a new stake in shares of Loews during the second quarter worth approximately $45,000. Eastern Bank purchased a new position in Loews during the third quarter valued at approximately $47,000. Wilmington Savings Fund Society FSB acquired a new position in Loews in the 3rd quarter valued at approximately $49,000. Finally, Quest Partners LLC purchased a new stake in Loews in the 3rd quarter worth approximately $129,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Loews

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were 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 owns 11,939,677 shares in the company, valued at approximately $994,097,507.02. This trade represents a 0.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles M. Diker sold 1,146 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total value of $99,507.18. Following the transaction, the director now directly owns 19,906 shares in the company, valued at approximately $1,728,437.98. This represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,679 shares of company stock worth $11,134,916 over the last three months. Company insiders own 18.70% of the company’s stock.

Loews Price Performance

NYSE L opened at $84.83 on Friday. The stock has a 50-day simple moving average of $84.60 and a 200 day simple moving average of $81.12. Loews Co. has a twelve month low of $71.45 and a twelve month high of $87.45. The stock has a market capitalization of $18.47 billion, a PE ratio of 11.27 and a beta of 0.83. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34.

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

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 27th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.29%. The ex-dividend date was Wednesday, November 27th. Loews’s dividend payout ratio is 3.32%.

Analyst Ratings Changes

Separately, StockNews.com lowered Loews from a “strong-buy” rating to a “buy” rating in a 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.