Proficio Capital Partners LLC Acquires Shares of 63,277 Loews Co. (NYSE:L)

Proficio Capital Partners LLC acquired a new stake in Loews Co. (NYSE:L) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 63,277 shares of the insurance provider’s stock, valued at approximately $5,359,000.

Several other large investors have also recently added to or reduced their stakes in L. KBC Group NV increased its stake in Loews by 1.6% in the 3rd quarter. KBC Group NV now owns 62,785 shares of the insurance provider’s stock valued at $4,963,000 after buying an additional 999 shares during the period. CIBC Asset Management Inc increased its stake in shares of Loews by 1.7% during the 3rd quarter. CIBC Asset Management Inc now owns 64,856 shares of the insurance provider’s stock worth $5,120,000 after purchasing an additional 1,105 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Loews by 7.2% during the 3rd quarter. Empowered Funds LLC now owns 2,990 shares of the insurance provider’s stock worth $236,000 after purchasing an additional 200 shares during the last quarter. Natixis Advisors LLC increased its stake in shares of Loews by 5.6% during the 3rd quarter. Natixis Advisors LLC now owns 68,620 shares of the insurance provider’s stock worth $5,424,000 after purchasing an additional 3,612 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Loews during the 3rd quarter worth $129,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Buying and Selling

In other Loews news, Director Jonathan M. Tisch sold 50,000 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total value of $4,254,000.00. Following the completion of the sale, the director now directly owns 7,105,529 shares of the company’s stock, valued at $604,538,407.32. This represents a 0.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew H. Tisch sold 7,533 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $84.35, for a total transaction of $635,408.55. Following the completion of the sale, the director now directly owns 1,568,191 shares of the company’s stock, valued at approximately $132,276,910.85. This trade represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 158,860 shares of company stock valued at $13,486,463. Company insiders own 18.70% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Loews from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

Loews Stock Performance

Shares of L opened at $86.56 on Monday. The company’s fifty day moving average is $84.75 and its 200-day moving average is $82.87. Loews Co. has a 12 month low of $72.91 and a 12 month high of $88.29. The firm has a market cap of $18.43 billion, a price-to-earnings ratio of 13.53 and a beta of 0.80. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, February 10th. The insurance provider reported $0.86 earnings per share (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 issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. The ex-dividend date was Wednesday, February 26th. Loews’s dividend payout ratio is currently 3.91%.

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.