Hedges Asset Management LLC Sells 2,500 Shares of Loews Co. (NYSE:L)

Hedges Asset Management LLC cut its position in shares of Loews Co. (NYSE:L) by 11.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,500 shares of the insurance provider’s stock after selling 2,500 shares during the quarter. Hedges Asset Management LLC’s holdings in Loews were worth $1,567,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wedmont Private Capital boosted its position in shares of Loews by 5.2% in the 4th quarter. Wedmont Private Capital now owns 3,065 shares of the insurance provider’s stock worth $249,000 after purchasing an additional 151 shares in the last quarter. Summit Trail Advisors LLC raised its stake in Loews by 2.6% during the third quarter. Summit Trail Advisors LLC now owns 6,038 shares of the insurance provider’s stock valued at $477,000 after buying an additional 153 shares during the last quarter. Atomi Financial Group Inc. boosted its holdings in Loews by 4.3% in the third quarter. Atomi Financial Group Inc. now owns 4,111 shares of the insurance provider’s stock worth $325,000 after acquiring an additional 169 shares in the last quarter. Ballentine Partners LLC grew its stake in shares of Loews by 5.2% in the third quarter. Ballentine Partners LLC now owns 3,772 shares of the insurance provider’s stock worth $298,000 after acquiring an additional 187 shares during the last quarter. Finally, Aaron Wealth Advisors LLC increased its holdings in shares of Loews by 5.8% during the fourth quarter. Aaron Wealth Advisors LLC now owns 3,568 shares of the insurance provider’s stock valued at $302,000 after acquiring an additional 196 shares in the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Price Performance

Shares of L opened at $83.95 on Friday. Loews Co. has a twelve month low of $71.45 and a twelve month high of $87.45. The company has a market capitalization of $18.28 billion, a P/E ratio of 11.15 and a beta of 0.83. The firm has a 50 day moving average of $84.58 and a 200 day moving average of $81.10. 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 (NYSE:L) last posted its earnings results on Monday, November 4th. The insurance provider reported $1.82 EPS for the quarter. The business had revenue of $4.47 billion during the quarter. Loews had a return on equity of 9.70% and a net margin of 9.71%.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th were paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.30%. The ex-dividend date was Wednesday, November 27th. Loews’s dividend payout ratio is currently 3.32%.

Insider Activity

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 11,939,677 shares in the company, valued at approximately $994,097,507.02. This trade represents a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles M. Diker sold 1,146 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $86.83, for a total value of $99,507.18. Following the completion of the transaction, the director now directly owns 19,906 shares in the company, valued at $1,728,437.98. This trade represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,679 shares of company stock valued at $11,134,916 in the last 90 days. 18.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Loews from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th.

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.