Global View Capital Management LLC Purchases Shares of 10,050 Loews Co. (NYSE:L)

Global View Capital Management LLC purchased a new stake in Loews Co. (NYSE:L) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 10,050 shares of the insurance provider’s stock, valued at approximately $846,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Venturi Wealth Management LLC raised its position in shares of Loews by 10.6% during the fourth quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider’s stock worth $105,000 after purchasing an additional 119 shares during the period. Wedmont Private Capital raised its position 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 purchasing an additional 151 shares during the period. Summit Trail Advisors LLC raised its position in shares of Loews by 2.6% during the third quarter. Summit Trail Advisors LLC now owns 6,038 shares of the insurance provider’s stock worth $477,000 after purchasing an additional 153 shares during the period. Mather Group LLC. raised its position in shares of Loews by 7.7% during the fourth quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider’s stock worth $190,000 after purchasing an additional 161 shares during the period. Finally, Perigon Wealth Management LLC raised its position in shares of Loews by 5.9% during the fourth quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider’s stock worth $285,000 after purchasing an additional 183 shares during the period. 58.33% of the stock is owned by institutional investors and hedge funds.

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.

Loews Trading Down 0.5 %

NYSE L opened at $84.88 on Tuesday. The firm has a market capitalization of $18.07 billion, a P/E ratio of 13.26 and a beta of 0.80. The business has a fifty day simple moving average of $84.71 and a 200 day simple moving average of $82.75. Loews Co. has a 12 month low of $72.91 and a 12 month high of $88.29. 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 (NYSE:L) last released its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 EPS for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th will be given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Wednesday, February 26th. Loews’s payout ratio is currently 3.91%.

Insider Activity at Loews

In other Loews news, Director Jonathan M. Tisch sold 3,691 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan M. Tisch sold 50,000 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total value of $4,254,000.00. Following the completion of the transaction, the director now owns 7,105,529 shares of the company’s stock, valued at $604,538,407.32. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 61,224 shares of company stock valued at $5,210,120. 18.70% of the stock is owned by insiders.

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.