Graney & King LLC Purchases New Holdings in Loews Co. (NYSE:L)

Graney & King LLC bought a new stake in Loews Co. (NYSE:L) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 665 shares of the insurance provider’s stock, valued at approximately $56,000.

A number of other institutional investors have also modified their holdings of L. Halbert Hargrove Global Advisors LLC purchased a new stake in Loews in the 4th quarter valued at approximately $26,000. Brooklyn Investment Group purchased a new stake in shares of Loews in the third quarter valued at approximately $40,000. Wilmington Savings Fund Society FSB purchased a new position in Loews in the third quarter worth $49,000. Human Investing LLC acquired a new stake in Loews in the fourth quarter valued at $51,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of Loews during the 4th quarter worth $68,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Stock Performance

NYSE L opened at $89.17 on Wednesday. The business has a 50 day moving average price of $85.47 and a 200 day moving average price of $83.19. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The company has a market capitalization of $18.98 billion, a P/E ratio of 13.93 and a beta of 0.80. Loews Co. has a 1-year low of $72.91 and a 1-year high of $89.67.

Loews (NYSE:L) last released its quarterly earnings data on Monday, February 10th. The insurance provider reported $0.86 EPS for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.25 annualized dividend and a dividend yield of 0.28%. Loews’s dividend payout ratio is currently 3.91%.

Insider Activity at Loews

In other Loews news, Director Jonathan M. Tisch sold 3,691 shares of Loews stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan M. Tisch sold 47,636 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $84.88, for a total value of $4,043,343.68. Following the transaction, the director now directly owns 6,705,529 shares in the company, valued at approximately $569,165,301.52. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 158,860 shares of company stock valued at $13,486,463. 18.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.