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

GAMMA Investing LLC lifted its holdings in shares of Loews Co. (NYSE:L) by 20.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,297 shares of the insurance provider’s stock after purchasing an additional 549 shares during the quarter. GAMMA Investing LLC’s holdings in Loews were worth $258,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of L. Altshuler Shaham Ltd bought a new stake in Loews in the 4th quarter worth approximately $26,000. Northwest Financial Advisors bought a new stake in Loews in the 4th quarter worth approximately $28,000. Operose Advisors LLC bought a new stake in Loews in the 3rd quarter worth approximately $30,000. Desjardins Global Asset Management Inc. lifted its position in Loews by 225.2% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance provider’s stock worth $34,000 after buying an additional 340 shares during the last quarter. Finally, Principal Securities Inc. bought a new stake in Loews in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Stock Performance

NYSE:L opened at $76.45 on Friday. The business has a 50 day moving average of $75.70 and a 200 day moving average of $74.01. The company has a market capitalization of $16.93 billion, a price-to-earnings ratio of 11.34 and a beta of 0.85. Loews Co. has a 1-year low of $57.50 and a 1-year high of $78.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34.

Loews (NYSE:L) last released its earnings results on Monday, May 6th. The insurance provider reported $2.05 earnings per share for the quarter. Loews had a return on equity of 9.45% and a net margin of 9.27%. The company had revenue of $4.23 billion during the quarter.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th were given a $0.0625 dividend. The ex-dividend date was Wednesday, May 29th. This represents a $0.25 annualized dividend and a yield of 0.33%. Loews’s payout ratio is currently 3.71%.

Insider Buying and Selling at Loews

In other Loews news, insider Jonathan M. Tisch sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $77.24, for a total value of $3,862,000.00. Following the completion of the sale, the insider now owns 507,799 shares in the company, valued at $39,222,394.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 150,000 shares of company stock worth $11,588,500. 18.70% of the stock is currently owned by insiders.

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.