Novem Group Makes New $678,000 Investment in Loews Co. (NYSE:L)

Novem Group bought a new stake in Loews Co. (NYSE:L - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 8,009 shares of the insurance provider's stock, valued at approximately $678,000.

Other hedge funds have also recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Loews in the fourth quarter valued at about $26,000. Minot DeBlois Advisors LLC acquired a new position in shares of Loews during the 4th quarter valued at $27,000. Itau Unibanco Holding S.A. lifted its position 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 valued at $37,000 after acquiring an additional 345 shares during the period. Human Investing LLC bought a new position in Loews during the fourth quarter worth $51,000. Finally, Graney & King LLC acquired a new stake in Loews in the fourth quarter worth $56,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Loews

In related news, SVP Richard Waldo Scott sold 9,019 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $87.92, for a total transaction of $792,950.48. Following the completion of the sale, the senior vice president now owns 33,901 shares in the company, valued at approximately $2,980,575.92. This represents a 21.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jonathan M. Tisch sold 50,000 shares of the firm's stock in a transaction 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 transaction, the director now owns 7,105,529 shares in the company, valued at approximately $604,538,407.32. This trade represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,655 shares of company stock valued at $13,323,294 over the last three months. Corporate insiders own 18.70% of the company's stock.

Wall Street Analyst Weigh In

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

Loews Trading Down 1.4%

NYSE L opened at $87.67 on Thursday. The company has a market cap of $18.38 billion, a price-to-earnings ratio of 13.70 and a beta of 0.70. Loews Co. has a 52 week low of $73.15 and a 52 week high of $92.42. The business has a 50 day moving average price of $87.17 and a 200-day moving average price of $85.40. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The insurance provider reported $1.74 earnings per share (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. Stockholders of record on Wednesday, May 28th will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend is Wednesday, May 28th. Loews's dividend payout ratio is currently 4.11%.

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.

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