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

GAMMA Investing LLC grew its holdings in shares of Loews Co. (NYSE:L) by 23.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,580 shares of the insurance provider’s stock after purchasing an additional 1,253 shares during the period. GAMMA Investing LLC’s holdings in Loews were worth $557,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in L. Brooklyn Investment Group acquired a new stake in Loews in the 3rd quarter valued at about $40,000. Eastern Bank acquired a new stake in Loews in the third quarter valued at approximately $47,000. Kimelman & Baird LLC acquired a new stake in Loews in the second quarter valued at approximately $45,000. Wilmington Savings Fund Society FSB acquired a new position in Loews during the 3rd quarter worth approximately $49,000. Finally, Quest Partners LLC purchased a new stake in shares of Loews in the 3rd quarter valued at approximately $129,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Activity at Loews

In other news, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction on Friday, November 15th. The shares were sold at an average price of $83.26, for a total value of $4,163,000.00. Following the transaction, the director now directly owns 11,939,677 shares of the company’s stock, valued at $994,097,507.02. The trade was a 0.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles M. Diker sold 1,146 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total transaction of $99,507.18. Following the sale, the director now owns 19,906 shares of the company’s stock, valued at approximately $1,728,437.98. This represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 126,146 shares of company stock valued at $10,499,507 in the last ninety days. Insiders own 18.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Loews from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th.

Loews Price Performance

L stock opened at $84.35 on Monday. The business has a 50 day moving average price of $83.73 and a 200 day moving average price of $80.34. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48. The stock has a market cap of $18.37 billion, a price-to-earnings ratio of 11.20 and a beta of 0.83. Loews Co. has a fifty-two week low of $70.23 and a fifty-two week high of $87.45.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.30%. The ex-dividend date was Wednesday, November 27th. Loews’s payout ratio is 3.32%.

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.