Hartford Investment Management Co. Decreases Stock Position in Loews Co. (NYSE:L)

Hartford Investment Management Co. lowered its stake in Loews Co. (NYSE:L) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,574 shares of the insurance provider’s stock after selling 168 shares during the period. Hartford Investment Management Co.’s holdings in Loews were worth $875,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. NBC Securities Inc. purchased a new position in shares of Loews in the third quarter worth about $29,000. Operose Advisors LLC bought a new stake in shares of Loews in the third quarter worth about $30,000. Eagle Bay Advisors LLC bought a new stake in shares of Loews in the second quarter worth about $36,000. Rockefeller Capital Management L.P. grew its stake in shares of Loews by 40.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 705 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 202 shares during the last quarter. Finally, Washington Trust Advisors Inc. bought a new stake in shares of Loews in the third quarter worth about $51,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Stock Up 0.4 %

NYSE L opened at $76.66 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.32 and a quick ratio of 0.32. The stock has a market capitalization of $17.03 billion, a PE ratio of 12.17 and a beta of 0.83. Loews Co. has a 1 year low of $55.31 and a 1 year high of $78.55. The business’s 50-day moving average is $75.18 and its 200 day moving average is $70.15.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, February 5th. The insurance provider reported $1.99 EPS for the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%. The firm had revenue of $4.26 billion for the quarter.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Wednesday, February 21st were issued a $0.0625 dividend. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $0.25 dividend on an annualized basis and a yield of 0.33%. Loews’s payout ratio is currently 3.97%.

Insider Buying and Selling

In related news, Director Andrew H. Tisch sold 125,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total value of $9,130,000.00. Following the completion of the transaction, the director now directly owns 945,886 shares in the company, valued at approximately $69,087,513.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Loews news, SVP Richard Waldo Scott sold 7,325 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $74.12, for a total transaction of $542,929.00. Following the completion of the sale, the senior vice president now directly owns 51,965 shares in the company, valued at approximately $3,851,645.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Andrew H. Tisch sold 125,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total transaction of $9,130,000.00. Following the sale, the director now owns 945,886 shares of the company’s stock, valued at $69,087,513.44. The disclosure for this sale can be found here. Insiders sold a total of 137,563 shares of company stock worth $10,052,551 in the last three months. Insiders own 18.30% of the company’s stock.

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.