Frank Rimerman Advisors LLC Acquires Shares of 2,856 Loews Co. (NYSE:L)

Frank Rimerman Advisors LLC acquired a new stake in Loews Co. (NYSE:L) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,856 shares of the insurance provider’s stock, valued at approximately $242,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC grew its position in shares of Loews by 10.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider’s stock valued at $105,000 after purchasing an additional 119 shares during the period. Wedmont Private Capital grew its position in shares of Loews by 5.2% in the fourth quarter. Wedmont Private Capital now owns 3,065 shares of the insurance provider’s stock valued at $249,000 after purchasing an additional 151 shares during the period. Summit Trail Advisors LLC grew its position in shares of Loews by 2.6% in the third quarter. Summit Trail Advisors LLC now owns 6,038 shares of the insurance provider’s stock valued at $477,000 after purchasing an additional 153 shares during the period. Mather Group LLC. grew its position in shares of Loews by 7.7% in the fourth quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider’s stock valued at $190,000 after purchasing an additional 161 shares during the period. Finally, Perigon Wealth Management LLC grew its position in shares of Loews by 5.9% in the fourth quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider’s stock valued at $285,000 after purchasing an additional 183 shares during the period. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Loews news, Director Andrew H. Tisch sold 7,533 shares of Loews stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $84.35, for a total transaction of $635,408.55. Following the transaction, the director now directly owns 1,568,191 shares of the company’s stock, valued at $132,276,910.85. The trade was a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan M. Tisch sold 3,691 shares of Loews stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $86.89, for a total transaction of $320,710.99. The disclosure for this sale can be found here. Insiders have sold 158,860 shares of company stock valued at $13,486,463 over the last ninety days. Company insiders own 18.70% of the company’s stock.

Loews Stock Performance

L opened at $87.48 on Tuesday. The firm has a market capitalization of $18.62 billion, a PE ratio of 13.67 and a beta of 0.80. Loews Co. has a twelve month low of $72.91 and a twelve month high of $88.29. The firm’s 50-day moving average price is $84.85 and its 200 day moving average price is $82.91. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50.

Loews (NYSE:L) last posted its quarterly 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders 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 yield of 0.29%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews’s dividend payout ratio (DPR) is presently 3.91%.

Loews 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.