Proficio Capital Partners LLC Purchases New Stake in Loews Co. (NYSE:L)

Proficio Capital Partners LLC acquired a new position in Loews Co. (NYSE:L) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 63,277 shares of the insurance provider’s stock, valued at approximately $5,359,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in shares of Loews in the 3rd quarter worth approximately $40,000. Wilmington Savings Fund Society FSB bought a new stake in Loews in the third quarter valued at $49,000. Human Investing LLC bought a new stake in Loews in the fourth quarter valued at $51,000. Venturi Wealth Management LLC boosted its holdings 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 valued at $105,000 after acquiring an additional 119 shares during the period. Finally, Principal Securities Inc. grew its position in shares of Loews by 24.4% during the fourth quarter. Principal Securities Inc. now owns 1,440 shares of the insurance provider’s stock worth $122,000 after acquiring an additional 282 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Loews news, Director Jonathan M. Tisch sold 50,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 7,105,529 shares of the company’s stock, valued at approximately $604,538,407.32. This represents a 0.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan M. Tisch sold 3,691 shares of Loews 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. In the last three months, insiders have sold 61,224 shares of company stock worth $5,210,120. 18.70% of the stock is owned by corporate insiders.

Loews Stock Performance

Shares of L stock opened at $87.06 on Tuesday. Loews Co. has a 12-month low of $72.91 and a 12-month high of $88.29. 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 has a market capitalization of $18.53 billion, a price-to-earnings ratio of 13.60 and a beta of 0.83. The business has a 50 day simple moving average of $84.67 and a 200 day simple moving average of $82.54.

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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.25 annualized dividend and a yield of 0.29%. Loews’s payout ratio is 3.91%.

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.