Loews Co. (NYSE:L) Shares Sold by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management lowered its position in shares of Loews Co. (NYSE:L) by 38.2% during the fourth quarter, Holdings Channel reports. The firm owned 1,308 shares of the insurance provider’s stock after selling 810 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Loews were worth $111,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group acquired a new position in Loews in the 3rd quarter valued at about $40,000. Eastern Bank acquired a new position in Loews in the 3rd quarter valued at about $47,000. Wilmington Savings Fund Society FSB acquired a new position in Loews in the 3rd quarter valued at about $49,000. Quest Partners LLC acquired a new position in Loews during the 3rd quarter worth approximately $129,000. Finally, Blue Trust Inc. increased its position in Loews by 240.5% during the 3rd quarter. Blue Trust Inc. now owns 2,360 shares of the insurance provider’s stock worth $176,000 after purchasing an additional 1,667 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Transactions at Loews

In other news, Director Andrew H. Tisch sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was 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. The trade was a 0.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles M. Diker sold 1,146 shares of the business’s stock in a transaction that occurred 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 sale, 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 disclosure for this sale can be found here. Insiders have sold 133,679 shares of company stock valued at $11,134,916 in the last quarter. 18.70% of the stock is currently owned by corporate insiders.

Loews Stock Performance

NYSE L opened at $86.20 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average is $84.73 and its two-hundred day moving average is $81.44. Loews Co. has a 12-month low of $71.45 and a 12-month high of $87.45. The stock has a market capitalization of $18.77 billion, a price-to-earnings ratio of 11.45 and a beta of 0.83.

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

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th were paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. The ex-dividend date was Wednesday, November 27th. Loews’s dividend payout ratio (DPR) is 3.32%.

Analyst Ratings Changes

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

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.