Delta Asset Management LLC TN Cuts Stake in Loews Co. (NYSE:L)

Delta Asset Management LLC TN lessened its stake in shares of Loews Co. (NYSE:L) by 44.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 431 shares of the insurance provider’s stock after selling 350 shares during the period. Delta Asset Management LLC TN’s holdings in Loews were worth $37,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Loews in the fourth quarter valued at approximately $26,000. Brooklyn Investment Group bought a new position in Loews in the 3rd quarter worth about $40,000. Wilmington Savings Fund Society FSB purchased a new position in Loews during the 3rd quarter valued at about $49,000. Human Investing LLC bought a new stake in shares of Loews during the fourth quarter valued at about $51,000. Finally, Graney & King LLC purchased a new stake in shares of Loews in the fourth quarter worth about $56,000. Institutional investors own 58.33% of the company’s stock.

Loews Stock Up 1.5 %

Shares of NYSE L opened at $90.52 on Thursday. The business has a 50-day moving average of $85.58 and a 200-day moving average of $83.24. The firm has a market capitalization of $19.27 billion, a price-to-earnings ratio of 14.14 and a beta of 0.80. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a 12 month low of $72.91 and a 12 month high of $90.89.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, February 10th. The insurance provider reported $0.86 earnings per share 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. Stockholders of record on Wednesday, February 26th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews’s payout ratio is currently 3.91%.

Insider Activity

In other news, Director Jonathan M. Tisch sold 3,691 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $86.89, for a total transaction of $320,710.99. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Andrew H. Tisch sold 7,533 shares of the business’s stock in a transaction dated 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 sale, the director now directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 158,860 shares of company stock worth $13,486,463. 18.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Loews 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.