Gabelli Funds LLC Lowers Position in Loews Co. (NYSE:L)

Gabelli Funds LLC decreased its stake in shares of Loews Co. (NYSE:L) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 251,000 shares of the insurance provider’s stock after selling 10,500 shares during the period. Gabelli Funds LLC owned about 0.12% of Loews worth $21,257,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Halbert Hargrove Global Advisors LLC purchased a new position in Loews during the 4th quarter worth $26,000. Wilmington Savings Fund Society FSB bought a new position in shares of Loews during the third quarter valued at about $49,000. Human Investing LLC purchased a new position in Loews during the fourth quarter worth about $51,000. Graney & King LLC bought a new stake in Loews in the 4th quarter worth about $56,000. Finally, Intact Investment Management Inc. purchased a new stake in Loews in the 4th quarter valued at about $68,000. Institutional investors own 58.33% of the company’s stock.

Loews Trading Down 0.2 %

NYSE L opened at $86.14 on Wednesday. The business’s fifty day moving average is $85.94 and its 200-day moving average is $84.11. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The stock has a market capitalization of $18.12 billion, a price-to-earnings ratio of 13.46 and a beta of 0.60. Loews Co. has a one year low of $72.91 and a one year high of $92.42.

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

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.29%. The ex-dividend date was Wednesday, February 26th. Loews’s dividend payout ratio (DPR) is 3.91%.

Insider Buying and Selling at Loews

In other news, Director Jonathan M. Tisch sold 50,000 shares of Loews stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $84.66, for a total value of $4,233,000.00. Following the completion of the transaction, the director now owns 6,755,529 shares in the company, valued at $571,923,085.14. This trade represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan M. Tisch sold 3,691 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total transaction of $320,710.99. The disclosure for this sale can be found here. Insiders have sold a total of 151,327 shares of company stock worth $12,851,055 over the last ninety days. 18.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.