International Assets Investment Management LLC Purchases New Stake in Loews Co. (NYSE:L)

International Assets Investment Management LLC purchased a new stake in shares of Loews Co. (NYSE:LFree Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 53,097 shares of the insurance provider’s stock, valued at approximately $3,695,000.

Several other institutional investors and hedge funds have also made changes to their positions in L. SteelPeak Wealth LLC acquired a new stake in Loews in the fourth quarter worth $1,909,000. Trust Point Inc. acquired a new stake in Loews in the fourth quarter worth $507,000. True North Advisors LLC acquired a new stake in Loews in the fourth quarter worth $214,000. Fifth Third Bancorp increased its position in Loews by 4.9% in the fourth quarter. Fifth Third Bancorp now owns 8,338 shares of the insurance provider’s stock worth $580,000 after buying an additional 388 shares during the period. Finally, State of Alaska Department of Revenue increased its position in Loews by 1.3% in the fourth quarter. State of Alaska Department of Revenue now owns 113,103 shares of the insurance provider’s stock worth $7,869,000 after buying an additional 1,420 shares during the period. 58.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jonathan M. Tisch sold 4,287 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $71.91, for a total transaction of $308,278.17. Following the transaction, the insider now directly owns 106,870 shares of the company’s stock, valued at $7,685,021.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jonathan M. Tisch sold 4,287 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $71.91, for a total transaction of $308,278.17. Following the completion of the transaction, the insider now owns 106,870 shares of the company’s stock, valued at $7,685,021.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul J. Fribourg sold 951 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $75.02, for a total value of $71,344.02. Following the transaction, the director now directly owns 21,200 shares of the company’s stock, valued at approximately $1,590,424. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,563 shares of company stock valued at $10,052,551. Company insiders own 18.70% of the company’s stock.

Loews Price Performance

Shares of NYSE L opened at $73.14 on Thursday. Loews Co. has a 1-year low of $55.31 and a 1-year high of $78.55. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.32 and a quick ratio of 0.32. The business’s fifty day moving average price is $75.39 and its two-hundred day moving average price is $70.68. The firm has a market capitalization of $16.25 billion, a PE ratio of 11.61 and a beta of 0.83.

Loews (NYSE:LGet Free Report) last issued its quarterly earnings results on Monday, February 5th. The insurance provider reported $1.99 EPS for the quarter. The company had revenue of $4.26 billion for the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Wednesday, February 21st were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Tuesday, February 20th. Loews’s dividend payout ratio (DPR) is 3.97%.

About Loews

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding L? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Loews Co. (NYSE:LFree Report).

Institutional Ownership by Quarter for Loews (NYSE:L)

Receive News & Ratings for Loews Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Loews and related companies with MarketBeat.com's FREE daily email newsletter.