GAMMA Investing LLC Raises Holdings in Loews Co. (NYSE:L)

GAMMA Investing LLC increased its stake in Loews Co. (NYSE:L - Free Report) by 10,114.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 672,138 shares of the insurance provider's stock after purchasing an additional 665,558 shares during the quarter. GAMMA Investing LLC owned approximately 0.32% of Loews worth $61,776,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Halbert Hargrove Global Advisors LLC bought a new position in Loews during the fourth quarter valued at $26,000. Minot DeBlois Advisors LLC purchased a new position in Loews during the 4th quarter worth $27,000. Itau Unibanco Holding S.A. raised its position in Loews by 387.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider's stock valued at $37,000 after purchasing an additional 345 shares in the last quarter. Human Investing LLC bought a new stake in shares of Loews in the 4th quarter valued at about $51,000. Finally, Graney & King LLC bought a new position in shares of Loews during the fourth quarter valued at approximately $56,000. Institutional investors own 58.33% of the company's stock.

Analyst Upgrades and Downgrades

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

Loews Price Performance

Loews stock traded up $0.29 during trading on Thursday, reaching $88.50. The company had a trading volume of 722,768 shares, compared to its average volume of 723,535. The firm has a market capitalization of $18.56 billion, a PE ratio of 13.83 and a beta of 0.70. The firm's 50-day simple moving average is $87.13 and its 200 day simple moving average is $85.87. 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 Co. has a 1-year low of $73.15 and a 1-year high of $92.42.

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

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 dividend yield of 0.28%. The ex-dividend date of this dividend is Wednesday, May 28th. Loews's dividend payout ratio (DPR) is currently 4.11%.

Insider Activity

In other Loews news, Director Jonathan M. Tisch sold 47,636 shares of Loews 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 transaction, the director now owns 6,705,529 shares of the company's stock, valued at $569,165,301.52. The trade was a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Richard Waldo Scott sold 9,019 shares of the 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 sale, the senior vice president now directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 106,655 shares of company stock worth $9,069,294. Corporate insiders own 19.00% of the company's stock.

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.