Trust Point Inc. Purchases Shares of 7,287 Loews Co. (NYSE:L)

Trust Point Inc. purchased a new stake in shares of Loews Co. (NYSE:L) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 7,287 shares of the insurance provider’s stock, valued at approximately $507,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Kinneret Advisory LLC increased its stake in shares of Loews by 2.3% in the first quarter. Kinneret Advisory LLC now owns 7,244 shares of the insurance provider’s stock valued at $470,000 after buying an additional 162 shares in the last quarter. Optas LLC increased its position in Loews by 2.4% in the third quarter. Optas LLC now owns 7,615 shares of the insurance provider’s stock worth $482,000 after purchasing an additional 181 shares during the period. United Capital Financial Advisers LLC increased its position in Loews by 2.7% in the fourth quarter. United Capital Financial Advisers LLC now owns 6,849 shares of the insurance provider’s stock worth $400,000 after purchasing an additional 183 shares during the period. Coldstream Capital Management Inc. increased its position in Loews by 5.5% in the third quarter. Coldstream Capital Management Inc. now owns 3,856 shares of the insurance provider’s stock worth $244,000 after purchasing an additional 201 shares during the period. Finally, Rockefeller Capital Management L.P. increased its position in Loews by 40.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 705 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 202 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Transactions at Loews

In other news, Director Paul J. Fribourg sold 951 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $75.02, for a total transaction of $71,344.02. Following the completion of the transaction, the director now directly owns 21,200 shares in the company, valued at approximately $1,590,424. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Paul J. Fribourg sold 951 shares of Loews stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $75.02, for a total transaction of $71,344.02. Following the transaction, the director now owns 21,200 shares in the company, valued at approximately $1,590,424. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew H. Tisch sold 125,000 shares of Loews stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total value of $9,130,000.00. Following the transaction, the director now owns 945,886 shares in the company, valued at approximately $69,087,513.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,563 shares of company stock worth $10,052,551. 18.30% of the stock is currently owned by company insiders.

Loews Price Performance

Shares of L stock opened at $76.66 on Friday. The stock has a 50-day moving average price of $75.11 and a 200 day moving average price of $70.00. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.48. The firm has a market cap of $17.03 billion, a price-to-earnings ratio of 12.12 and a beta of 0.83. Loews Co. has a 12 month low of $55.31 and a 12 month high of $78.55.

Loews (NYSE:L) last posted its 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 during the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Wednesday, February 21st were given a dividend of $0.0625 per share. The ex-dividend date was Tuesday, February 20th. This represents a $0.25 annualized dividend and a dividend yield of 0.33%. Loews’s payout ratio is currently 3.97%.

Loews Company 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.