Novem Group Invests $678,000 in Loews Co. (NYSE:L)

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

Several other hedge funds have also recently made changes to their positions in L. Venturi Wealth Management LLC increased its stake in shares of Loews by 10.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider's stock worth $105,000 after buying an additional 119 shares during the period. Gilder Gagnon Howe & Co. LLC grew its position in Loews by 3.2% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 3,884 shares of the insurance provider's stock valued at $329,000 after purchasing an additional 122 shares during the last quarter. Mather Group LLC. increased its holdings in shares of Loews by 7.7% in the 4th quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider's stock worth $190,000 after purchasing an additional 161 shares in the last quarter. Perigon Wealth Management LLC boosted its holdings in Loews by 5.9% in the fourth quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider's stock worth $285,000 after purchasing an additional 183 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Loews by 5.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 4,228 shares of the insurance provider's stock valued at $358,000 after purchasing an additional 200 shares during the period. 58.33% of the stock is owned by institutional investors.

Loews Price Performance

Shares of NYSE L traded up $0.84 during trading on Tuesday, hitting $88.72. The company had a trading volume of 174,334 shares, compared to its average volume of 727,442. The firm has a market capitalization of $18.60 billion, a price-to-earnings ratio of 13.86 and a beta of 0.70. Loews Co. has a fifty-two week low of $73.15 and a fifty-two week high of $92.42. The stock has a fifty day simple moving average of $87.20 and a two-hundred day simple moving average of $85.62. 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 announced its quarterly earnings results on Monday, May 5th. The insurance provider reported $1.74 earnings per share for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%. The firm had revenue of $4.49 billion during the quarter.

Loews Announces Dividend

The firm also recently declared 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 yield of 0.28%. The ex-dividend date of this dividend is Wednesday, May 28th. Loews's dividend payout ratio is currently 4.11%.

Insider Transactions at Loews

In related news, Director Jonathan M. Tisch sold 50,000 shares of Loews stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $84.66, for a total transaction of $4,233,000.00. Following the transaction, the director now owns 6,755,529 shares of the company's stock, valued at $571,923,085.14. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Richard Waldo Scott sold 9,019 shares of the business's stock in a transaction dated 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 directly owns 33,901 shares of the company's stock, valued at approximately $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 quarter, insiders sold 106,655 shares of company stock worth $9,069,294. Insiders own 19.00% of the company's stock.

Analysts Set New Price Targets

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

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.