International Assets Investment Management LLC purchased a new position in shares of Loews Co. (NYSE:L - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 53,097 shares of the insurance provider's stock, valued at approximately $3,695,000.
Other hedge funds have also made changes to their positions in the company. Optas LLC boosted its position in shares of Loews by 2.4% during the third quarter. Optas LLC now owns 7,615 shares of the insurance provider's stock worth $482,000 after buying an additional 181 shares during the period. Coldstream Capital Management Inc. increased its holdings in shares of Loews by 5.5% during the third quarter. Coldstream Capital Management Inc. now owns 3,856 shares of the insurance provider's stock valued at $244,000 after purchasing an additional 201 shares during the period. Alaska Permanent Fund Corp raised its stake in shares of Loews by 1.5% during the third quarter. Alaska Permanent Fund Corp now owns 19,192 shares of the insurance provider's stock valued at $1,215,000 after purchasing an additional 282 shares in the last quarter. Atria Wealth Solutions Inc. grew its position in Loews by 0.9% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 32,736 shares of the insurance provider's stock valued at $2,073,000 after buying an additional 295 shares in the last quarter. Finally, New Mexico Educational Retirement Board increased its stake in Loews by 3.2% during the 3rd quarter. New Mexico Educational Retirement Board now owns 9,795 shares of the insurance provider's stock valued at $620,000 after buying an additional 300 shares during the period. Institutional investors own 58.33% of the company's stock.
Insider Buying and Selling at Loews
In other news, Director Andrew H. Tisch sold 125,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total value of $9,130,000.00. Following the completion of the sale, the director now directly owns 945,886 shares of the company's stock, valued at $69,087,513.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Andrew H. Tisch sold 125,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $73.04, for a total transaction of $9,130,000.00. Following the completion of the sale, the director now directly owns 945,886 shares in the company, valued at $69,087,513.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Richard Waldo Scott sold 7,325 shares of the business's stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $74.12, for a total value of $542,929.00. Following the completion of the transaction, the senior vice president now owns 51,965 shares in the company, valued at approximately $3,851,645.80. The disclosure for this sale can be found here. Insiders have sold a total of 183,276 shares of company stock valued at $13,613,773 in the last three months. 18.70% of the stock is currently owned by company insiders.
Loews Price Performance
Shares of NYSE L traded up $0.28 during midday trading on Friday, reaching $77.98. The company's stock had a trading volume of 650,970 shares, compared to its average volume of 690,629. Loews Co. has a one year low of $55.94 and a one year high of $78.55. The company has a market cap of $17.33 billion, a price-to-earnings ratio of 11.57 and a beta of 0.82. The company has a 50 day moving average price of $76.11 and a 200 day moving average price of $72.05. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.48.
Loews (NYSE:L - Get Free Report) last announced its earnings results on Monday, May 6th. The insurance provider reported $2.05 EPS for the quarter. The business had revenue of $4.23 billion during the quarter. Loews had a return on equity of 9.65% and a net margin of 9.27%.
About Loews
(
Free Report)
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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