Wilmington Savings Fund Society FSB Makes New Investment in Loews Co. (NYSE:L)

Wilmington Savings Fund Society FSB acquired a new stake in Loews Co. (NYSE:L) in the 3rd quarter, Holdings Channel reports. The firm acquired 624 shares of the insurance provider’s stock, valued at approximately $49,000.

Other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group acquired a new stake in Loews in the third quarter valued at approximately $40,000. Eastern Bank acquired a new stake in Loews in the 3rd quarter valued at $47,000. Kimelman & Baird LLC bought a new stake in Loews during the 2nd quarter valued at $45,000. Family Firm Inc. acquired a new position in Loews during the second quarter worth $46,000. Finally, Innealta Capital LLC acquired a new position in Loews during the second quarter worth $51,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

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

Loews Stock Up 1.9 %

L stock opened at $83.19 on Friday. The firm has a market capitalization of $18.12 billion, a PE ratio of 11.05 and a beta of 0.83. 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 Co. has a twelve month low of $67.85 and a twelve month high of $87.45. The stock’s 50 day moving average is $82.99 and its 200-day moving average is $79.63.

Loews Announces Dividend

The business also recently disclosed 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 (DPR) is presently 3.32%.

Insiders Place Their Bets

In other Loews news, Director Charles M. Diker sold 1,146 shares of the company’s stock in a transaction on 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 owns 19,906 shares in the company, valued at $1,728,437.98. This represents a 5.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew H. Tisch sold 50,000 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 11,939,677 shares of the company’s stock, valued at approximately $994,097,507.02. This represents a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 126,146 shares of company stock valued at $10,499,507 in the last three months. 18.70% of the stock is currently owned by insiders.

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.