Delta Asset Management LLC TN Sells 350 Shares of Loews Co. (NYSE:L)

Delta Asset Management LLC TN reduced its position in Loews Co. (NYSE:L) by 44.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 431 shares of the insurance provider’s stock after selling 350 shares during the period. Delta Asset Management LLC TN’s holdings in Loews were worth $37,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in L. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Loews in the 4th quarter worth $26,000. Brooklyn Investment Group purchased a new position in Loews in the 3rd quarter worth about $40,000. Wilmington Savings Fund Society FSB bought a new position in Loews during the 3rd quarter valued at about $49,000. Human Investing LLC purchased a new stake in shares of Loews during the 4th quarter valued at about $51,000. Finally, Graney & King LLC purchased a new position in shares of Loews during the fourth quarter valued at approximately $56,000. 58.33% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Jonathan M. Tisch sold 47,636 shares of Loews stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the sale, the director now owns 6,705,529 shares of the company’s stock, valued at approximately $569,165,301.52. This trade represents a 0.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew H. Tisch sold 7,533 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total transaction of $635,408.55. Following the completion of the transaction, the director now directly owns 1,568,191 shares in the company, valued at $132,276,910.85. This trade represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 158,860 shares of company stock worth $13,486,463 over the last three months. 18.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Loews Trading Up 1.5 %

Loews stock opened at $90.52 on Thursday. Loews Co. has a 52-week low of $72.91 and a 52-week high of $90.89. The company has a market cap of $19.27 billion, a P/E ratio of 14.14 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. The business has a 50-day simple moving average of $85.58 and a two-hundred day simple moving average of $83.24.

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

Loews Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.28%. The ex-dividend date was Wednesday, February 26th. Loews’s dividend payout ratio is currently 3.91%.

Loews 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.