Levin Capital Strategies L.P. Acquires 3,868 Shares of Loews Co. (NYSE:L)

Levin Capital Strategies L.P. increased its holdings in shares of Loews Co. (NYSE:L) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,085 shares of the insurance provider’s stock after acquiring an additional 3,868 shares during the period. Levin Capital Strategies L.P. owned about 0.05% of Loews worth $9,747,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of L. Assenagon Asset Management S.A. lifted its holdings in Loews by 345.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 296,538 shares of the insurance provider’s stock worth $25,114,000 after buying an additional 229,965 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Loews by 92.9% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,484 shares of the insurance provider’s stock worth $37,745,000 after buying an additional 229,956 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Loews by 22.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 569,156 shares of the insurance provider’s stock worth $44,992,000 after buying an additional 105,810 shares in the last quarter. Barclays PLC lifted its holdings in Loews by 13.1% during the 3rd quarter. Barclays PLC now owns 752,380 shares of the insurance provider’s stock worth $59,473,000 after buying an additional 87,259 shares in the last quarter. Finally, State Street Corp lifted its holdings in Loews by 1.0% during the 3rd quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock worth $638,506,000 after buying an additional 82,581 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Analyst Ratings Changes

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

Loews Stock Performance

L stock opened at $86.56 on Friday. The business’s fifty day moving average is $84.60 and its 200-day moving average is $82.44. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. The company has a market cap of $18.43 billion, a P/E ratio of 13.53 and a beta of 0.83. Loews Co. has a twelve month low of $72.91 and a twelve month high of $88.29.

Loews (NYSE:L) last posted 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 Dividend Announcement

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 paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.29%. The ex-dividend date is Wednesday, February 26th. Loews’s payout ratio is presently 3.91%.

Insider Buying and Selling

In related news, Director Andrew H. Tisch sold 7,533 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total transaction of $635,408.55. Following the sale, the director now owns 1,568,191 shares of the company’s stock, valued at approximately $132,276,910.85. This trade represents a 0.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Charles M. Diker sold 1,146 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,728,437.98. This trade represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,370 shares of company stock valued at $5,309,627. 18.70% of the stock is owned by company insiders.

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.