Lecap Asset Management Ltd. Buys New Position in Loews Co. (NYSE:L)

Lecap Asset Management Ltd. purchased a new position in Loews Co. (NYSE:L) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,790 shares of the insurance provider’s stock, valued at approximately $403,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Raymond James & Associates raised its position in shares of Loews by 9.5% during the first quarter. Raymond James & Associates now owns 59,878 shares of the insurance provider’s stock worth $3,881,000 after purchasing an additional 5,176 shares during the period. American Century Companies Inc. lifted its stake in Loews by 15.6% during the first quarter. American Century Companies Inc. now owns 19,679 shares of the insurance provider’s stock valued at $1,275,000 after buying an additional 2,655 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Loews by 21.1% in the first quarter. MetLife Investment Management LLC now owns 53,610 shares of the insurance provider’s stock worth $3,475,000 after buying an additional 9,333 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Loews by 4.3% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,236 shares of the insurance provider’s stock valued at $1,701,000 after acquiring an additional 1,081 shares during the period. Finally, Vontobel Holding Ltd. lifted its position in shares of Loews by 6.5% in the 1st quarter. Vontobel Holding Ltd. now owns 4,934 shares of the insurance provider’s stock valued at $323,000 after acquiring an additional 300 shares in the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Price Performance

Shares of NYSE:L opened at $73.90 on Monday. The company’s fifty day moving average is $75.36 and its two-hundred day moving average is $70.52. The company has a market cap of $16.42 billion, a P/E ratio of 11.73 and a beta of 0.83. Loews Co. has a 12-month low of $55.31 and a 12-month high of $78.55. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.48.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, February 5th. The insurance provider reported $1.99 earnings per share (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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Wednesday, February 21st were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.34%. The ex-dividend date was Tuesday, February 20th. Loews’s payout ratio is 3.97%.

Insiders Place Their Bets

In other Loews news, Director Paul J. Fribourg sold 951 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $75.02, for a total transaction of $71,344.02. Following the sale, the director now directly owns 21,200 shares of the company’s stock, valued at approximately $1,590,424. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Andrew H. Tisch sold 125,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $73.04, for a total transaction of $9,130,000.00. Following the completion of the transaction, the director now directly owns 945,886 shares in the company, valued at $69,087,513.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul J. Fribourg sold 951 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $75.02, for a total value of $71,344.02. Following the completion of the sale, the director now owns 21,200 shares in the company, valued at $1,590,424. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,563 shares of company stock valued at $10,052,551. 18.70% of the stock is currently owned by insiders.

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.