Private Management Group Inc. Buys New Position in Loews Co. (NYSE:L)

Private Management Group Inc. bought a new stake in shares of Loews Co. (NYSE:L) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,900 shares of the insurance provider’s stock, valued at approximately $202,000.

Several other large investors have also bought and sold shares of L. Assenagon Asset Management S.A. boosted its position in shares of Loews by 316.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 580,107 shares of the insurance provider’s stock valued at $36,727,000 after purchasing an additional 440,693 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Loews by 118.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 286,708 shares of the insurance provider’s stock valued at $18,151,000 after purchasing an additional 155,713 shares during the period. Barclays PLC lifted its stake in Loews by 34.9% in the 3rd quarter. Barclays PLC now owns 577,591 shares of the insurance provider’s stock worth $36,568,000 after acquiring an additional 149,500 shares in the last quarter. Bank of Nova Scotia lifted its stake in Loews by 115.4% in the 3rd quarter. Bank of Nova Scotia now owns 270,421 shares of the insurance provider’s stock worth $17,120,000 after acquiring an additional 144,902 shares in the last quarter. Finally, Jump Financial LLC lifted its stake in Loews by 3,984.2% in the 3rd quarter. Jump Financial LLC now owns 146,910 shares of the insurance provider’s stock worth $9,301,000 after acquiring an additional 143,313 shares in the last quarter. Institutional investors own 58.33% of the company’s stock.

Loews Stock Up 0.1 %

Shares of L traded up $0.09 during midday trading on Wednesday, reaching $76.81. 515,480 shares of the stock were exchanged, compared to its average volume of 754,608. Loews Co. has a 12-month low of $55.31 and a 12-month high of $78.55. The firm has a 50 day simple moving average of $75.63 and a 200-day simple moving average of $71.11. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.48. The company has a market cap of $17.07 billion, a price-to-earnings ratio of 12.16 and a beta of 0.83.

Loews (NYSE:L) last posted its quarterly earnings results on Monday, February 5th. The insurance provider reported $1.99 earnings per share for the quarter. The company had revenue of $4.26 billion during the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Wednesday, February 21st were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend was Tuesday, February 20th. Loews’s dividend payout ratio (DPR) is currently 3.97%.

Insider Transactions at Loews

In other news, Director Paul J. Fribourg sold 951 shares of Loews stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $75.02, for a total transaction of $71,344.02. Following the sale, the director now owns 21,200 shares of the company’s stock, valued at approximately $1,590,424. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Paul J. Fribourg sold 951 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $75.02, for a total transaction of $71,344.02. Following the completion of the transaction, the director now owns 21,200 shares in the company, valued at approximately $1,590,424. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan M. Tisch sold 4,287 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $71.91, for a total value of $308,278.17. Following the transaction, the insider now owns 106,870 shares of the company’s stock, valued at approximately $7,685,021.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,563 shares of company stock valued at $10,052,551. 18.70% of the stock is owned by corporate insiders.

Loews 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.