GoalVest Advisory LLC Invests $1.32 Million in Loews Co. (NYSE:L)

GoalVest Advisory LLC acquired a new stake in shares of Loews Co. (NYSE:L) in the 4th quarter, HoldingsChannel reports. The firm acquired 15,625 shares of the insurance provider’s stock, valued at approximately $1,323,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brooklyn Investment Group bought a new position in Loews in the third quarter valued at about $40,000. Eastern Bank acquired a new position in Loews in the 3rd quarter worth about $47,000. Kimelman & Baird LLC acquired a new stake in shares of Loews during the second quarter valued at about $45,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Loews during the third quarter worth about $49,000. Finally, Quest Partners LLC acquired a new position in shares of Loews in the third quarter valued at approximately $129,000. 58.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Loews

In related news, Director Charles M. Diker sold 1,146 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total value of $99,507.18. Following the transaction, the director now directly owns 19,906 shares in the company, valued at $1,728,437.98. This trade represents a 5.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew H. Tisch sold 50,000 shares of the business’s stock in a transaction on 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 sale, the director now owns 11,939,677 shares of the company’s stock, valued at $994,097,507.02. This trade represents a 0.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,679 shares of company stock valued at $11,134,916. Corporate insiders own 18.70% of the company’s stock.

Loews Stock Down 2.1 %

Shares of L opened at $84.50 on Thursday. The company has a market capitalization of $18.40 billion, a PE ratio of 11.22 and a beta of 0.83. The stock’s 50-day moving average price is $84.55 and its two-hundred day moving average price is $81.08. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. Loews Co. has a 12 month low of $71.45 and a 12 month high of $87.45.

Loews (NYSE:L) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.82 earnings per share (EPS) for the quarter. Loews had a net margin of 9.71% and a return on equity of 9.70%. The firm had revenue of $4.47 billion during the quarter.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a yield of 0.30%. Loews’s payout ratio is currently 3.32%.

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.