Hartford Investment Management Co. Lowers Stake in Loews Co. (NYSE:L)

Hartford Investment Management Co. trimmed its holdings in Loews Co. (NYSE:L) by 9.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 11,082 shares of the insurance provider’s stock after selling 1,223 shares during the period. Hartford Investment Management Co.’s holdings in Loews were worth $939,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Brooklyn Investment Group acquired a new stake in shares of Loews in the 3rd quarter worth $40,000. Eastern Bank acquired a new stake in Loews in the third quarter valued at about $47,000. Wilmington Savings Fund Society FSB acquired a new stake in Loews in the third quarter valued at about $49,000. Quest Partners LLC acquired a new position in Loews during the 3rd quarter worth approximately $129,000. Finally, Blue Trust Inc. raised its stake 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 in the last quarter. Institutional investors and hedge funds own 58.33% 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.

Insider Activity at Loews

In other Loews news, Director Charles M. Diker sold 1,146 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total transaction of $99,507.18. Following the sale, the director now owns 19,906 shares in the company, valued at approximately $1,728,437.98. This represents a 5.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan M. Tisch sold 3,691 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was 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. In the last three months, insiders have sold 12,370 shares of company stock valued at $1,055,627. Insiders own 18.70% of the company’s stock.

Loews Stock Down 1.4 %

Shares of NYSE L opened at $82.95 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average price of $84.56 and a 200 day moving average price of $81.95. Loews Co. has a 52 week low of $72.91 and a 52 week high of $88.29. The stock has a market capitalization of $18.07 billion, a price-to-earnings ratio of 11.02 and a beta of 0.83.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 EPS for the quarter. Loews had a return on equity of 9.70% and a net margin of 9.71%.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th will be given a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.25 annualized dividend and a dividend yield of 0.30%. Loews’s dividend payout ratio is presently 3.32%.

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.