Ritholtz Wealth Management Purchases 734 Shares of Loews Co. (NYSE:L)

Ritholtz Wealth Management grew its holdings in shares of Loews Co. (NYSE:L) by 13.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,051 shares of the insurance provider’s stock after purchasing an additional 734 shares during the quarter. Ritholtz Wealth Management’s holdings in Loews were worth $512,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in Loews in the third quarter worth about $40,000. Kimelman & Baird LLC bought a new position in shares of Loews during the 2nd quarter valued at approximately $45,000. Eastern Bank purchased a new stake in Loews in the 3rd quarter worth approximately $47,000. Wilmington Savings Fund Society FSB bought a new stake in Loews during the 3rd quarter worth approximately $49,000. Finally, Quest Partners LLC bought a new stake in Loews during the 3rd quarter worth approximately $129,000. Institutional investors own 58.33% of the company’s stock.

Insider Transactions at Loews

In other news, Director Charles M. Diker sold 1,146 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total transaction of $99,507.18. Following the transaction, the director now directly owns 19,906 shares in the company, valued at approximately $1,728,437.98. This trade represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew H. Tisch sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $83.16, for a total transaction of $6,237,000.00. Following the completion of the transaction, the director now directly owns 12,089,677 shares of the company’s stock, valued at $1,005,377,539.32. This trade represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,679 shares of company stock valued at $11,134,916. 18.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Loews from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th.

Loews Price Performance

Shares of L stock opened at $86.27 on Tuesday. The stock has a 50 day moving average price of $84.42 and a 200 day moving average price of $80.91. Loews Co. has a 52-week low of $70.59 and a 52-week high of $87.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. The firm has a market capitalization of $18.79 billion, a P/E ratio of 11.46 and a beta of 0.83.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a yield of 0.29%. Loews’s dividend payout ratio is currently 3.32%.

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.