Tidal Investments LLC Sells 1,624 Shares of Loews Co. (NYSE:L)

Tidal Investments LLC cut its position in Loews Co. (NYSE:L) by 12.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,631 shares of the insurance provider’s stock after selling 1,624 shares during the quarter. Tidal Investments LLC’s holdings in Loews were worth $919,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brooklyn Investment Group bought a new stake in shares of Loews during the 3rd quarter valued at approximately $40,000. Eastern Bank bought a new position in shares of Loews in the 3rd quarter valued at $47,000. Kimelman & Baird LLC acquired a new stake in shares of Loews during the 2nd quarter valued at $45,000. Family Firm Inc. bought a new stake in Loews during the 2nd quarter worth $46,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Loews in the 3rd quarter worth about $49,000. 58.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Loews from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th.

Loews Price Performance

L stock opened at $83.19 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. The company’s 50-day moving average is $82.99 and its 200-day moving average is $79.60. The stock has a market capitalization of $18.12 billion, a PE ratio of 11.05 and a beta of 0.83. Loews Co. has a 1 year low of $67.85 and a 1 year high of $87.45.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend was Wednesday, November 27th. Loews’s dividend payout ratio (DPR) is 3.32%.

Insider Activity at Loews

In other news, Director Charles M. Diker sold 1,146 shares of the business’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. The trade was a 5.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew H. Tisch sold 75,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $83.16, for a total value of $6,237,000.00. Following the completion of the transaction, the director now directly owns 12,089,677 shares in the company, valued at approximately $1,005,377,539.32. This represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 126,146 shares of company stock valued at $10,499,507. 18.70% of the stock is owned by corporate insiders.

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.