Empowered Funds LLC Has $236,000 Stock Position in Loews Co. (NYSE:L)

Empowered Funds LLC increased its position in shares of Loews Co. (NYSE:L) by 7.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,990 shares of the insurance provider’s stock after purchasing an additional 200 shares during the quarter. Empowered Funds LLC’s holdings in Loews were worth $236,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Optas LLC boosted its position in shares of Loews by 1.9% in the 2nd quarter. Optas LLC now owns 8,086 shares of the insurance provider’s stock worth $604,000 after purchasing an additional 151 shares during the last quarter. Atomi Financial Group Inc. lifted its stake in Loews by 4.3% in the third quarter. Atomi Financial Group Inc. now owns 4,111 shares of the insurance provider’s stock valued at $325,000 after buying an additional 169 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Loews by 6.2% during the second quarter. Sequoia Financial Advisors LLC now owns 3,195 shares of the insurance provider’s stock worth $239,000 after buying an additional 186 shares during the last quarter. Ballentine Partners LLC grew its position in shares of Loews by 5.2% during the 3rd quarter. Ballentine Partners LLC now owns 3,772 shares of the insurance provider’s stock worth $298,000 after buying an additional 187 shares during the period. Finally, Signaturefd LLC grew its position in shares of Loews by 6.1% during the 3rd quarter. Signaturefd LLC now owns 3,818 shares of the insurance provider’s stock worth $302,000 after buying an additional 221 shares during the period. Institutional investors own 58.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of Loews from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Jefferies Financial Group lowered their price objective on shares of Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st.

Insider Buying and Selling

In related news, Director Ann E. Berman sold 1,087 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the completion of the transaction, the director now owns 4,998 shares in the company, valued at approximately $406,737.24. This represents a 17.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrew H. Tisch sold 50,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were 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 directly owns 11,939,677 shares of the company’s stock, valued at approximately $994,097,507.02. This trade represents a 0.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 213,587 shares of company stock worth $17,586,460 over the last ninety days. Company insiders own 18.70% of the company’s stock.

Loews Trading Up 0.9 %

NYSE:L opened at $86.61 on Wednesday. The business’s 50-day simple moving average is $80.73 and its 200-day simple moving average is $78.52. Loews Co. has a fifty-two week low of $67.20 and a fifty-two week high of $86.90. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. The stock has a market capitalization of $18.86 billion, a PE ratio of 11.50 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 dividend payout ratio is 3.32%.

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.