Empowered Funds LLC Boosts Stock Position in Loews Co. (NYSE:L)

Empowered Funds LLC grew its stake in Loews Co. (NYSE:L) by 13.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,393 shares of the insurance provider’s stock after purchasing an additional 403 shares during the period. Empowered Funds LLC’s holdings in Loews were worth $287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in L. Brooklyn Investment Group purchased a new position in Loews in the third quarter worth approximately $40,000. Eastern Bank acquired a new position in Loews during the third quarter worth $47,000. Wilmington Savings Fund Society FSB acquired a new position in Loews during the third quarter worth $49,000. Quest Partners LLC acquired a new position in Loews during the third quarter worth $129,000. Finally, Blue Trust Inc. lifted its stake in Loews by 240.5% during the third quarter. Blue Trust Inc. now owns 2,360 shares of the insurance provider’s stock worth $176,000 after purchasing an additional 1,667 shares in the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In other Loews news, Director Charles M. Diker sold 1,146 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total value of $99,507.18. Following the sale, the director now directly owns 19,906 shares in the company, valued at $1,728,437.98. This trade represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew H. Tisch sold 7,533 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $84.35, for a total value of $635,408.55. Following the completion of the sale, the director now owns 1,568,191 shares in the company, valued at approximately $132,276,910.85. This represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,370 shares of company stock worth $1,055,627. Corporate insiders own 18.70% of the company’s stock.

Loews Stock Down 0.3 %

Shares of NYSE L opened at $82.72 on Friday. The stock has a market cap of $17.61 billion, a P/E ratio of 12.93 and a beta of 0.83. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a 12-month low of $72.91 and a 12-month high of $88.29. The business’s fifty day simple moving average is $84.40 and its 200-day simple moving average is $82.08.

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

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is Wednesday, February 26th. Loews’s payout ratio is currently 3.91%.

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.