Graney & King LLC Acquires New Shares in Loews Co. (NYSE:L)

Graney & King LLC bought a new position in shares of Loews Co. (NYSE:L) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 665 shares of the insurance provider’s stock, valued at approximately $56,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in L. Empowered Funds LLC raised its holdings in Loews by 7.2% in the 3rd quarter. Empowered Funds LLC now owns 2,990 shares of the insurance provider’s stock valued at $236,000 after buying an additional 200 shares during the period. Quest Partners LLC acquired a new stake in shares of Loews during the third quarter valued at about $129,000. PNC Financial Services Group Inc. raised its stake in shares of Loews by 47.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 37,319 shares of the insurance provider’s stock valued at $2,950,000 after acquiring an additional 12,070 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Loews by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock worth $127,409,000 after acquiring an additional 8,615 shares during the last quarter. Finally, Citigroup Inc. boosted its position in shares of Loews by 35.5% during the 3rd quarter. Citigroup Inc. now owns 266,850 shares of the insurance provider’s stock worth $21,094,000 after purchasing an additional 69,896 shares during the period. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Stock Up 0.7 %

Shares of NYSE:L opened at $89.17 on Wednesday. The firm has a market capitalization of $18.98 billion, a PE ratio of 13.93 and a beta of 0.80. Loews Co. has a 1 year low of $72.91 and a 1 year high of $89.67. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The firm’s 50-day moving average is $85.47 and its two-hundred day moving average is $83.19.

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

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.0625 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 annualized dividend and a yield of 0.28%. Loews’s dividend payout ratio (DPR) is 3.91%.

Insider Buying and Selling at Loews

In related news, Director Jonathan M. Tisch sold 47,636 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the completion of the sale, the director now owns 6,705,529 shares in the company, valued at $569,165,301.52. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan M. Tisch sold 3,691 shares of the firm’s 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 valued at $13,486,463 in the last quarter. Corporate insiders own 18.70% of the company’s stock.

Analysts Set New Price Targets

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

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.