Holderness Investments Co. Lowers Holdings in Loews Co. (NYSE:L)

Holderness Investments Co. reduced its stake in Loews Co. (NYSE:L) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,936 shares of the insurance provider’s stock after selling 184 shares during the period. Holderness Investments Co.’s holdings in Loews were worth $249,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of L. Empowered Funds LLC increased its position in shares of Loews by 7.2% during the third quarter. Empowered Funds LLC now owns 2,990 shares of the insurance provider’s stock valued at $236,000 after acquiring an additional 200 shares in the last quarter. Natixis Advisors LLC boosted its stake in Loews by 5.6% during the 3rd quarter. Natixis Advisors LLC now owns 68,620 shares of the insurance provider’s stock valued at $5,424,000 after purchasing an additional 3,612 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Loews in the 3rd quarter worth $129,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Loews in the third quarter worth $399,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Loews by 47.8% during the third quarter. PNC Financial Services Group Inc. now owns 37,319 shares of the insurance provider’s stock valued at $2,950,000 after purchasing an additional 12,070 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors.

Loews Trading Down 1.1 %

Shares of L stock opened at $87.22 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a 12-month low of $72.91 and a 12-month high of $88.66. The stock has a market capitalization of $18.57 billion, a P/E ratio of 13.63 and a beta of 0.80. The firm’s 50 day moving average is $85.23 and its 200 day moving average is $83.05.

Loews (NYSE:L) last released 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 Announces Dividend

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

Analyst Ratings Changes

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

Insider Transactions at Loews

In other news, Director Andrew H. Tisch sold 7,533 shares of Loews stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $84.35, for a total transaction of $635,408.55. Following the transaction, the director now directly owns 1,568,191 shares of the company’s stock, valued at $132,276,910.85. The trade was a 0.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan M. Tisch sold 3,691 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total transaction of $320,710.99. The disclosure for this sale can be found here. Insiders have sold 158,860 shares of company stock worth $13,486,463 in the last quarter. Company insiders own 18.70% of the company’s stock.

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.