Assetmark Inc. Has $70,000 Stake in Loews Co. (NYSE:L)

Assetmark Inc. increased its position in shares of Loews Co. (NYSE:L) by 117.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 832 shares of the insurance provider’s stock after buying an additional 449 shares during the period. Assetmark Inc.’s holdings in Loews were worth $70,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in L. Charles Schwab Investment Management Inc. increased its holdings in shares of Loews by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock valued at $127,409,000 after purchasing an additional 8,615 shares during the last quarter. Miracle Mile Advisors LLC acquired a new position in shares of Loews in the fourth quarter valued at $315,000. Intech Investment Management LLC increased its holdings in shares of Loews by 8.0% in the third quarter. Intech Investment Management LLC now owns 137,566 shares of the insurance provider’s stock valued at $10,875,000 after purchasing an additional 10,213 shares during the last quarter. Swedbank AB increased its holdings in shares of Loews by 8.8% in the third quarter. Swedbank AB now owns 379,647 shares of the insurance provider’s stock valued at $30,011,000 after purchasing an additional 30,600 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Loews by 47.8% in the third quarter. PNC Financial Services Group Inc. now owns 37,319 shares of the insurance provider’s stock valued at $2,950,000 after purchasing an additional 12,070 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Jonathan M. Tisch sold 50,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jonathan M. Tisch sold 3,691 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $86.89, for a total transaction of $320,710.99. The disclosure for this sale can be found here. Insiders sold 158,860 shares of company stock valued at $13,486,463 over the last quarter. 18.70% of the stock is owned by company insiders.

Loews Trading Up 2.1 %

L stock opened at $86.56 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The company’s 50-day simple moving average is $84.75 and its 200 day simple moving average is $82.84. Loews Co. has a 52 week low of $72.91 and a 52 week high of $88.29. The company has a market capitalization of $18.43 billion, a PE ratio of 13.53 and a beta of 0.80.

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

Loews Dividend Announcement

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

Wall Street Analysts Forecast Growth

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.