Loews Co. (NYSE:L) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC reduced its stake in shares of Loews Co. (NYSE:L) by 61.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,475 shares of the insurance provider’s stock after selling 13,789 shares during the period. Cresset Asset Management LLC’s holdings in Loews were worth $718,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in L. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Loews during the 4th quarter worth approximately $26,000. Itau Unibanco Holding S.A. boosted its holdings in shares of Loews by 387.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 345 shares during the last quarter. Human Investing LLC acquired a new position in shares of Loews during the 4th quarter worth approximately $51,000. Graney & King LLC acquired a new position in shares of Loews during the 4th quarter worth approximately $56,000. Finally, Intact Investment Management Inc. acquired a new position in shares of Loews during the 4th quarter worth approximately $68,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Loews

In other Loews news, SVP Richard Waldo Scott sold 9,019 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $87.92, for a total value of $792,950.48. Following the sale, the senior vice president now owns 33,901 shares of the company’s stock, valued at $2,980,575.92. The trade was a 21.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan M. Tisch sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total value of $4,254,000.00. Following the completion of the sale, the director now directly owns 7,105,529 shares in the company, valued at approximately $604,538,407.32. The trade was a 0.70% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 156,655 shares of company stock worth $13,323,294. Insiders own 19.00% of the company’s stock.

Loews Trading Down 0.8%

L opened at $88.60 on Wednesday. Loews Co. has a one year low of $73.15 and a one year high of $92.42. The stock has a market capitalization of $18.58 billion, a PE ratio of 13.84 and a beta of 0.70. The business’s 50 day moving average price is $86.75 and its 200 day moving average price is $85.08. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34.

Loews (NYSE:L) last released its quarterly earnings data on Monday, May 5th. The insurance provider reported $1.74 EPS for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%. The firm had revenue of $4.49 billion for the quarter.

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.28%. Loews’s dividend payout ratio is presently 4.11%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Loews from a “hold” rating to a “buy” rating in a report on Tuesday, May 6th.

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.