Loews Co. (NYSE:L) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P cut its stake in shares of Loews Co. (NYSE:L - Free Report) by 17.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 215,388 shares of the insurance provider's stock after selling 45,733 shares during the quarter. Martingale Asset Management L P owned approximately 0.10% of Loews worth $18,241,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Loews in the 4th quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB acquired a new position in Loews in the third quarter valued at approximately $49,000. Human Investing LLC purchased a new position in Loews in the fourth quarter valued at approximately $51,000. Graney & King LLC acquired a new stake in Loews during the fourth quarter worth approximately $56,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of Loews during the 4th quarter worth approximately $68,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Loews

In related news, Director Jonathan M. Tisch sold 50,000 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the transaction, the director now owns 7,105,529 shares of the company's stock, valued at $604,538,407.32. This represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jonathan M. Tisch sold 3,691 shares of the firm's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. Insiders have sold a total of 151,327 shares of company stock worth $12,851,055 in the last three months. Insiders own 18.70% of the company's stock.

Loews Stock Performance

Shares of Loews stock traded up $1.93 during trading on Monday, reaching $86.61. The company's stock had a trading volume of 133,180 shares, compared to its average volume of 734,423. The firm has a market cap of $18.22 billion, a PE ratio of 13.53 and a beta of 0.60. The company has a 50-day moving average price of $85.95 and a two-hundred day moving average price of $84.04. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a fifty-two week low of $72.91 and a fifty-two week high of $92.42.

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

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews's dividend payout ratio is presently 3.91%.

Wall Street Analyst Weigh In

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

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.