Trust Point Inc. Has $415,000 Position in Loews Co. (NYSE:L)

Trust Point Inc. increased its position in shares of Loews Co. (NYSE:L) by 11.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,906 shares of the insurance provider’s stock after purchasing an additional 507 shares during the quarter. Trust Point Inc.’s holdings in Loews were worth $415,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in Loews in the 3rd quarter valued at $40,000. Eastern Bank acquired a new position in shares of Loews during the 3rd quarter worth $47,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Loews during the 3rd quarter worth $49,000. Quest Partners LLC bought a new stake in shares of Loews during the 3rd quarter worth $129,000. Finally, Blue Trust Inc. lifted its position in shares of Loews by 240.5% during the 3rd quarter. Blue Trust Inc. now owns 2,360 shares of the insurance provider’s stock worth $176,000 after buying an additional 1,667 shares during the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Trading Up 0.6 %

Shares of L stock opened at $86.26 on Thursday. The stock has a market cap of $18.79 billion, a price-to-earnings ratio of 11.46 and a beta of 0.83. The stock has a 50-day moving average of $84.70 and a 200-day moving average of $81.66. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. Loews Co. has a 1-year low of $71.52 and a 1-year high of $87.45.

Loews (NYSE:L) last released its earnings results on Monday, November 4th. The insurance provider reported $1.82 EPS for the quarter. Loews had a return on equity of 9.70% and a net margin of 9.71%. The business had revenue of $4.47 billion during the quarter.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 27th were paid a dividend of $0.0625 per share. The ex-dividend date was Wednesday, November 27th. This represents a $0.25 annualized dividend and a yield of 0.29%. Loews’s dividend payout ratio is currently 3.32%.

Insider Buying and Selling

In other news, Director Charles M. Diker sold 1,146 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total value of $99,507.18. Following the transaction, the director now owns 19,906 shares in the company, valued at $1,728,437.98. This trade represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew H. Tisch sold 7,533 shares of the firm’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 transaction, the director now owns 1,568,191 shares in the company, valued at $132,276,910.85. This represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,679 shares of company stock valued at $11,134,916 over the last 90 days. Company insiders own 18.70% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Loews from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th.

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.