GAMMA Investing LLC Acquires 665,558 Shares of Loews Co. (NYSE:L)

GAMMA Investing LLC boosted its holdings in shares of Loews Co. (NYSE:L - Free Report) by 10,114.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 672,138 shares of the insurance provider's stock after purchasing an additional 665,558 shares during the period. GAMMA Investing LLC owned about 0.32% of Loews worth $61,776,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its stake in Loews by 207.4% during the first quarter. Versant Capital Management Inc now owns 1,125 shares of the insurance provider's stock worth $103,000 after purchasing an additional 759 shares during the period. California State Teachers Retirement System raised its stake in shares of Loews by 7.2% in the fourth quarter. California State Teachers Retirement System now owns 758,592 shares of the insurance provider's stock valued at $64,245,000 after acquiring an additional 51,028 shares during the last quarter. 111 Capital bought a new position in shares of Loews in the fourth quarter valued at approximately $220,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Loews by 27.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,486 shares of the insurance provider's stock valued at $1,227,000 after acquiring an additional 3,140 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Loews in the fourth quarter valued at approximately $9,330,000. Institutional investors own 58.33% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Loews from a "hold" rating to a "buy" rating in a research note on Tuesday, May 6th.

Insider Buying and Selling

In related news, SVP Richard Waldo Scott sold 9,019 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $87.92, for a total value of $792,950.48. Following the completion of the transaction, the senior vice president now owns 33,901 shares in the company, valued at $2,980,575.92. The trade was a 21.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jonathan M. Tisch sold 47,636 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the completion of the transaction, the director now owns 6,705,529 shares of the company's stock, valued at $569,165,301.52. This trade represents a 0.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 106,655 shares of company stock worth $9,069,294 in the last quarter. Insiders own 19.00% of the company's stock.

Loews Price Performance

Shares of NYSE:L traded up $0.58 during trading on Friday, reaching $89.19. The stock had a trading volume of 417,759 shares, compared to its average volume of 722,528. Loews Co. has a 52 week low of $73.15 and a 52 week high of $92.42. The business's 50-day moving average price is $87.01 and its 200 day moving average price is $85.93. 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 stock has a market capitalization of $18.70 billion, a PE ratio of 13.94 and a beta of 0.71.

Loews (NYSE:L - Get Free Report) last posted its earnings results on Monday, May 5th. The insurance provider reported $1.74 earnings per share (EPS) for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%. The company had revenue of $4.49 billion during the quarter.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.28%. The ex-dividend date is Wednesday, May 28th. Loews's dividend payout ratio (DPR) is presently 4.11%.

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.