Edgestream Partners L.P. Trims Stake in Loews Co. (NYSE:L)

Edgestream Partners L.P. lowered its stake in shares of Loews Co. (NYSE:L) by 7.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,211 shares of the insurance provider’s stock after selling 1,084 shares during the quarter. Edgestream Partners L.P.’s holdings in Loews were worth $1,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its stake in Loews by 2.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,183,138 shares of the insurance provider’s stock worth $251,627,000 after acquiring an additional 69,459 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Loews by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider’s stock worth $199,858,000 after acquiring an additional 161,810 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Loews by 0.5% during the third 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 in the last quarter. AQR Capital Management LLC lifted its stake in shares of Loews by 5.8% in the second quarter. AQR Capital Management LLC now owns 820,800 shares of the insurance provider’s stock worth $61,347,000 after buying an additional 45,237 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of Loews by 5.0% in the second quarter. Hsbc Holdings PLC now owns 692,116 shares of the insurance provider’s stock worth $51,750,000 after buying an additional 33,125 shares in the last quarter. Institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling at Loews

In related news, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $83.26, for a total transaction of $4,163,000.00. Following the completion of the transaction, the director now directly owns 11,939,677 shares of the company’s stock, valued at approximately $994,097,507.02. The trade was a 0.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles M. Diker sold 1,146 shares of Loews stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $86.83, for a total transaction of $99,507.18. Following the transaction, the director now directly owns 19,906 shares of the company’s stock, valued at approximately $1,728,437.98. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 126,146 shares of company stock worth $10,499,507. Insiders own 18.70% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Loews from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th.

Loews Stock Down 0.2 %

Shares of L stock opened at $85.84 on Thursday. The company has a market capitalization of $18.69 billion, a price-to-earnings ratio of 11.40 and a beta of 0.83. Loews Co. has a one year low of $67.20 and a one year high of $87.45. The company’s fifty day moving average price is $81.67 and its 200-day moving average price is $78.90. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34.

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th will be issued a $0.0625 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a yield of 0.29%. Loews’s dividend payout ratio is currently 3.32%.

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.