Stonehearth Capital Management LLC Takes $211,000 Position in Loews Co. (NYSE:L)

Stonehearth Capital Management LLC acquired a new position in Loews Co. (NYSE:L) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,700 shares of the insurance provider’s stock, valued at approximately $211,000.

Other large investors also recently added to or reduced their stakes in the company. Kapitalo Investimentos Ltda lifted its holdings in shares of Loews by 210.8% in the 4th quarter. Kapitalo Investimentos Ltda now owns 3,898 shares of the insurance provider’s stock valued at $271,000 after purchasing an additional 2,644 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in Loews during the 4th quarter valued at $258,000. PNC Financial Services Group Inc. increased its position in Loews by 11.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 25,066 shares of the insurance provider’s stock worth $1,744,000 after purchasing an additional 2,625 shares in the last quarter. Wellington Management Group LLP raised its stake in Loews by 0.7% in the 4th quarter. Wellington Management Group LLP now owns 20,526 shares of the insurance provider’s stock valued at $1,428,000 after purchasing an additional 145 shares during the last quarter. Finally, Able Wealth Management LLC purchased a new position in Loews in the 4th quarter valued at about $48,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Loews

In related news, insider Jonathan M. Tisch sold 50,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $77.24, for a total value of $3,862,000.00. Following the transaction, the insider now directly owns 507,799 shares in the company, valued at approximately $39,222,394.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 150,000 shares of company stock valued at $11,588,500. Corporate insiders own 18.70% of the company’s stock.

Loews Stock Up 1.3 %

Shares of NYSE:L traded up $0.99 during midday trading on Tuesday, hitting $76.20. 649,449 shares of the company’s stock traded hands, compared to its average volume of 755,576. Loews Co. has a twelve month low of $57.47 and a twelve month high of $78.55. The company has a market cap of $16.87 billion, a PE ratio of 11.16 and a beta of 0.85. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The firm’s fifty day moving average price is $75.60 and its two-hundred day moving average price is $73.93.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, May 6th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter. Loews had a return on equity of 9.45% and a net margin of 9.27%. The business had revenue of $4.23 billion for the quarter.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Wednesday, May 29th. Loews’s dividend payout ratio is 3.71%.

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.