Park Avenue Securities LLC Buys 792 Shares of Loews Co. (NYSE:L)

Park Avenue Securities LLC raised its stake in shares of Loews Co. (NYSE:L) by 16.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,659 shares of the insurance provider’s stock after purchasing an additional 792 shares during the quarter. Park Avenue Securities LLC’s holdings in Loews were worth $479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Assenagon Asset Management S.A. boosted its holdings in shares of Loews by 345.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 296,538 shares of the insurance provider’s stock worth $25,114,000 after purchasing an additional 229,965 shares in the last quarter. Miracle Mile Advisors LLC bought a new position in Loews during the fourth quarter valued at approximately $315,000. Wedmont Private Capital raised its stake in shares of Loews by 5.2% during the fourth quarter. Wedmont Private Capital now owns 3,065 shares of the insurance provider’s stock worth $249,000 after acquiring an additional 151 shares in the last quarter. Czech National Bank lifted its holdings in shares of Loews by 5.6% in the 4th quarter. Czech National Bank now owns 39,192 shares of the insurance provider’s stock worth $3,319,000 after acquiring an additional 2,077 shares during the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in shares of Loews in the 4th quarter valued at $227,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Price Performance

L opened at $83.95 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. Loews Co. has a 1 year low of $71.45 and a 1 year high of $87.45. The stock’s 50 day simple moving average is $84.58 and its 200 day simple moving average is $81.10. The firm has a market cap of $18.28 billion, a price-to-earnings ratio of 11.15 and a beta of 0.83.

Loews (NYSE:L) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.82 earnings per share (EPS) for the quarter. Loews had a net margin of 9.71% and a return on equity of 9.70%. The firm had revenue of $4.47 billion for the quarter.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date was Wednesday, November 27th. Loews’s payout ratio is 3.32%.

Insider Activity

In related news, Director Andrew H. Tisch sold 50,000 shares of Loews 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 owns 11,939,677 shares in the company, valued at $994,097,507.02. The trade was a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles M. Diker sold 1,146 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total transaction of $99,507.18. Following the transaction, the director now directly owns 19,906 shares in the company, valued at approximately $1,728,437.98. The trade was a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,679 shares of company stock valued at $11,134,916. Insiders own 18.70% 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 note on Wednesday, November 20th.

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.