Loews Co. (NYSE:L) Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC reduced its stake in Loews Co. (NYSE:L) by 83.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 93,323 shares of the insurance provider’s stock after selling 469,344 shares during the quarter. Acadian Asset Management LLC’s holdings in Loews were worth $7,303,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in L. Altshuler Shaham Ltd purchased a new stake in shares of Loews in the 4th quarter valued at approximately $26,000. Northwest Financial Advisors purchased a new stake in shares of Loews in the 4th quarter valued at approximately $28,000. Desjardins Global Asset Management Inc. increased its position in shares of Loews by 225.2% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 340 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Loews in the 4th quarter valued at approximately $38,000. Finally, Lindbrook Capital LLC increased its position in shares of Loews by 41.4% in the 4th quarter. Lindbrook Capital LLC now owns 611 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 179 shares during the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jonathan M. Tisch sold 50,000 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $77.39, for a total value of $3,869,500.00. Following the completion of the transaction, the insider now owns 607,799 shares in the company, valued at approximately $47,037,564.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 150,000 shares of company stock worth $11,588,500 in the last 90 days. 18.70% of the stock is currently owned by corporate insiders.

Loews Stock Up 0.2 %

Shares of NYSE:L traded up $0.15 during trading hours on Monday, reaching $78.21. The stock had a trading volume of 111,689 shares, compared to its average volume of 739,954. The firm’s 50 day moving average is $75.79 and its 200-day moving average is $75.08. Loews Co. has a 1 year low of $60.98 and a 1 year high of $81.11. 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 stock has a market capitalization of $17.32 billion, a price-to-earnings ratio of 11.58 and a beta of 0.83.

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

Loews Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th were issued a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.32%. Loews’s dividend payout ratio is presently 3.71%.

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.