Global View Capital Management LLC Purchases New Stake in Loews Co. (NYSE:L)

Global View Capital Management LLC purchased a new stake in Loews Co. (NYSE:L) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,050 shares of the insurance provider’s stock, valued at approximately $846,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of L. State Street Corp raised its stake in Loews by 1.0% during the third quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock worth $638,506,000 after acquiring an additional 82,581 shares in the last quarter. Geode Capital Management LLC raised its stake in Loews by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider’s stock worth $336,005,000 after acquiring an additional 53,428 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Loews by 0.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider’s stock worth $268,640,000 after acquiring an additional 8,750 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Loews by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,623,291 shares of the insurance provider’s stock worth $137,477,000 after acquiring an additional 11,540 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Loews by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider’s stock worth $109,067,000 after acquiring an additional 77,386 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Transactions at Loews

In related news, Director Jonathan M. Tisch sold 3,691 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Andrew H. Tisch sold 7,533 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $84.35, for a total value of $635,408.55. Following the completion of the sale, the director now owns 1,568,191 shares in the company, valued at $132,276,910.85. The trade was a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,224 shares of company stock worth $5,210,120. Insiders own 18.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Loews from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

Loews Stock Down 0.5 %

Shares of NYSE L opened at $84.88 on Tuesday. The company has a market cap of $18.07 billion, a price-to-earnings ratio of 13.26 and a beta of 0.80. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average price of $84.71 and a two-hundred day moving average price of $82.75. Loews Co. has a 12 month low of $72.91 and a 12 month high of $88.29.

Loews (NYSE:L) last released its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be issued 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 of this dividend is Wednesday, February 26th. Loews’s dividend payout ratio (DPR) is currently 3.91%.

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.