Loews Co. (NYSE:L) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. reduced its holdings in Loews Co. (NYSE:L) by 9.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,082 shares of the insurance provider’s stock after selling 1,223 shares during the quarter. Hartford Investment Management Co.’s holdings in Loews were worth $939,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in Loews in the 3rd quarter valued at about $40,000. Eastern Bank purchased a new stake in Loews in the third quarter valued at approximately $47,000. Wilmington Savings Fund Society FSB acquired a new position in Loews during the third quarter worth approximately $49,000. Quest Partners LLC purchased a new position in Loews during the third quarter worth approximately $129,000. Finally, Blue Trust Inc. boosted its holdings in shares of Loews by 240.5% in the 3rd quarter. Blue Trust Inc. now owns 2,360 shares of the insurance provider’s stock valued at $176,000 after purchasing an additional 1,667 shares during the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Loews Stock Down 1.4 %

L opened at $82.95 on Friday. Loews Co. has a 1 year low of $72.91 and a 1 year high of $88.29. The firm has a 50 day moving average price of $84.56 and a 200 day moving average price of $81.95. 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 company has a market cap of $18.07 billion, a PE ratio of 11.02 and a beta of 0.83.

Loews (NYSE:L) last released 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 9.71% and a return on equity of 9.70%.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be given a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Wednesday, February 26th. Loews’s payout ratio is 3.32%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Loews from a “buy” rating to a “hold” rating in a report on Tuesday.

Insider Activity

In other Loews news, Director Jonathan M. Tisch sold 3,691 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Charles M. Diker sold 1,146 shares of Loews stock in a transaction dated 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 approximately $1,728,437.98. The trade was a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,370 shares of company stock worth $1,055,627. 18.70% of the stock is currently owned by corporate insiders.

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.