Florida Financial Advisors LLC Acquires 962 Shares of Loews Co. (NYSE:L)

Florida Financial Advisors LLC lifted its stake in Loews Co. (NYSE:L) by 18.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,044 shares of the insurance provider’s stock after purchasing an additional 962 shares during the period. Florida Financial Advisors LLC’s holdings in Loews were worth $512,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its stake in shares of Loews by 7.2% during the 3rd quarter. Empowered Funds LLC now owns 2,990 shares of the insurance provider’s stock worth $236,000 after purchasing an additional 200 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Loews in the 3rd quarter valued at $129,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Loews during the 3rd quarter worth about $399,000. PNC Financial Services Group Inc. grew its holdings in Loews by 47.8% during the third quarter. PNC Financial Services Group Inc. now owns 37,319 shares of the insurance provider’s stock worth $2,950,000 after acquiring an additional 12,070 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Loews by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock worth $127,409,000 after purchasing an additional 8,615 shares during the period. Institutional investors own 58.33% of the company’s stock.

Insiders Place Their Bets

In other Loews news, Director Jonathan M. Tisch sold 50,000 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the completion of the sale, the director now owns 7,105,529 shares of the company’s stock, valued at $604,538,407.32. This trade represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan M. Tisch sold 3,691 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. Insiders have sold 158,860 shares of company stock valued at $13,486,463 in the last ninety days. 18.70% of the stock is currently owned by corporate insiders.

Loews Price Performance

Shares of Loews stock opened at $88.54 on Tuesday. The stock has a market capitalization of $18.85 billion, a P/E ratio of 13.83 and a beta of 0.80. The business has a 50 day simple moving average of $85.35 and a two-hundred day simple moving average of $83.12. Loews Co. has a 12 month low of $72.91 and a 12 month high of $88.66. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34.

Loews (NYSE:L) last announced its quarterly earnings data 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a $0.0625 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a yield of 0.28%. Loews’s payout ratio is 3.91%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Loews from a “buy” rating to a “hold” rating in a research 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.