Loews Co. (NYSE:L) Shares Purchased by Inceptionr LLC

Inceptionr LLC raised its holdings in shares of Loews Co. (NYSE:L) by 199.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,143 shares of the insurance provider’s stock after purchasing an additional 18,753 shares during the quarter. Loews accounts for 0.5% of Inceptionr LLC’s portfolio, making the stock its 6th largest position. Inceptionr LLC’s holdings in Loews were worth $2,383,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp grew its position in shares of Loews by 1.0% in the 3rd quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock worth $638,506,000 after acquiring an additional 82,581 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Loews by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider’s stock worth $336,005,000 after acquiring an additional 53,428 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Loews by 0.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider’s stock worth $268,640,000 after acquiring an additional 8,750 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Loews by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,623,291 shares of the insurance provider’s stock worth $137,477,000 after acquiring an additional 11,540 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Loews by 6.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider’s stock worth $109,067,000 after acquiring an additional 77,386 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Buying and Selling at Loews

In other news, Director Jonathan M. Tisch sold 50,000 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the completion of the sale, the director now directly owns 7,105,529 shares of the company’s stock, valued at $604,538,407.32. This represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Andrew H. Tisch sold 7,533 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $84.35, for a total value of $635,408.55. Following the sale, the director now directly owns 1,568,191 shares of the company’s stock, valued at approximately $132,276,910.85. This represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,224 shares of company stock valued at $5,210,120 in the last quarter. Corporate insiders own 18.70% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Loews from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

Loews Trading Up 0.4 %

Shares of NYSE L opened at $85.40 on Thursday. The company has a market cap of $18.18 billion, a price-to-earnings ratio of 13.34 and a beta of 0.83. Loews Co. has a 12-month low of $72.91 and a 12-month high of $88.29. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The stock’s 50 day simple moving average is $84.69 and its 200 day simple moving average is $82.60.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.29%. The ex-dividend date is Wednesday, February 26th. Loews’s payout ratio is currently 3.91%.

About Loews

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.