HighTower Advisors LLC Raises Position in Loews Co. (NYSE:L)

HighTower Advisors LLC boosted its holdings in shares of Loews Co. (NYSE:L) by 15.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 75,423 shares of the insurance provider’s stock after buying an additional 10,204 shares during the period. HighTower Advisors LLC’s holdings in Loews were worth $6,388,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Venturi Wealth Management LLC lifted its holdings in shares of Loews by 10.6% during the 4th quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider’s stock worth $105,000 after acquiring an additional 119 shares during the last quarter. Wedmont Private Capital lifted its stake in 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 last quarter. Summit Trail Advisors LLC boosted its holdings in shares of Loews by 2.6% in the 3rd 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 in the last quarter. Mather Group LLC. increased its position in shares of Loews by 7.7% during the 4th quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider’s stock valued at $190,000 after purchasing an additional 161 shares during the last quarter. Finally, Perigon Wealth Management LLC raised its holdings in shares of Loews by 5.9% during the 4th quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider’s stock valued at $285,000 after buying an additional 183 shares in the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Loews

In other Loews news, Director Andrew H. Tisch sold 7,533 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total transaction of $635,408.55. Following the completion of the transaction, the director now owns 1,568,191 shares of the company’s stock, valued at approximately $132,276,910.85. This trade represents a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jonathan M. Tisch sold 47,636 shares of the company’s stock in a transaction dated 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 directly owns 6,705,529 shares in the company, valued at $569,165,301.52. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 158,860 shares of company stock worth $13,486,463 over the last quarter. 18.70% of the stock is owned by corporate insiders.

Loews Price Performance

Shares of Loews stock opened at $86.83 on Wednesday. The stock has a market capitalization of $18.48 billion, a P/E ratio of 13.57 and a beta of 0.80. Loews Co. has a one year low of $72.91 and a one year 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 business’s 50 day simple moving average is $84.93 and its two-hundred day simple moving average is $82.95.

Loews (NYSE:L) last announced its quarterly 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a yield of 0.29%. Loews’s dividend payout ratio is presently 3.91%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Loews from a “buy” rating to a “hold” rating in a 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.