Inspire Investing LLC Decreases Position in Loews Co. (NYSE:L)

Inspire Investing LLC trimmed its holdings in shares of Loews Co. (NYSE:L) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,040 shares of the insurance provider’s stock after selling 1,426 shares during the quarter. Inspire Investing LLC’s holdings in Loews were worth $1,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in L. Miracle Mile Advisors LLC purchased a new position in Loews in the 4th quarter worth $315,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Loews by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock valued at $127,409,000 after acquiring an additional 8,615 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Loews by 8.0% in the third quarter. Intech Investment Management LLC now owns 137,566 shares of the insurance provider’s stock worth $10,875,000 after acquiring an additional 10,213 shares during the last quarter. PNC Financial Services Group Inc. increased its position 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 worth $2,950,000 after purchasing an additional 12,070 shares in the last quarter. Finally, Swedbank AB raised its stake in Loews by 8.8% in the 3rd quarter. Swedbank AB now owns 379,647 shares of the insurance provider’s stock valued at $30,011,000 after purchasing an additional 30,600 shares during the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Andrew H. Tisch sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $83.26, for a total value of $4,163,000.00. Following the completion of the transaction, the director now directly owns 11,939,677 shares of the company’s stock, valued at $994,097,507.02. This trade represents a 0.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles M. Diker sold 1,146 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $86.83, for a total transaction of $99,507.18. Following the completion of the sale, 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 90 days, insiders have sold 133,679 shares of company stock valued at $11,134,916. 18.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Loews Stock Performance

Shares of L stock opened at $84.50 on Thursday. The firm has a 50 day moving average of $84.58 and a two-hundred day moving average of $81.10. The stock has a market capitalization of $18.40 billion, a PE ratio of 11.22 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 52 week low of $71.45 and a 52 week high of $87.45.

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

Loews Dividend Announcement

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

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.