Redpoint Investment Management Pty Ltd Makes New Investment in Loews Co. (NYSE:L)

Redpoint Investment Management Pty Ltd bought a new position in shares of Loews Co. (NYSE:LGet Rating) during the second quarter, Holdings Channel.com reports. The firm bought 4,531 shares of the insurance provider’s stock, valued at approximately $269,000.

Other institutional investors have also recently made changes to their positions in the company. Ellevest Inc. grew its holdings in Loews by 58.1% in the first quarter. Ellevest Inc. now owns 427 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 157 shares during the period. Allworth Financial LP purchased a new position in Loews in the first quarter worth about $30,000. Capital Management Associates NY purchased a new stake in shares of Loews during the first quarter valued at approximately $32,000. Rockefeller Capital Management L.P. increased its position in shares of Loews by 217.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 686 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 470 shares in the last quarter. Finally, CWM LLC raised its holdings in Loews by 181.0% in the 1st quarter. CWM LLC now owns 708 shares of the insurance provider’s stock worth $46,000 after acquiring an additional 456 shares during the last quarter. Institutional investors own 58.61% of the company’s stock.

Loews Stock Down 2.6 %

L opened at $53.96 on Monday. Loews Co. has a twelve month low of $51.35 and a twelve month high of $68.20. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average price of $56.74 and a 200-day moving average price of $60.61. The stock has a market capitalization of $13.00 billion, a price-to-earnings ratio of 12.52 and a beta of 0.81.

Loews Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 30th. Stockholders of record on Wednesday, August 17th were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $0.25 annualized dividend and a dividend yield of 0.46%. Loews’s payout ratio is 5.80%.

Insider Transactions at Loews

In other news, major shareholder Corp Loews bought 50,789 shares of the stock in a transaction on Thursday, September 15th. The shares were bought at an average price of $38.44 per share, with a total value of $1,952,329.16. Following the completion of the acquisition, the insider now owns 243,678,966 shares in the company, valued at $9,367,019,453.04. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought a total of 197,676 shares of company stock worth $7,780,976 in the last ninety days. Insiders own 17.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on L shares. TheStreet downgraded Loews from a “b” rating to a “c” rating in a research note on Monday, August 1st. StockNews.com cut Loews from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd.

About Loews

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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 property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto and umbrella coverages.

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Institutional Ownership by Quarter for Loews (NYSE:L)

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