NBC Securities Inc. Purchases New Stake in Loews Co. (NYSE:L)

NBC Securities Inc. purchased a new stake in Loews Co. (NYSE:L) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 446 shares of the insurance provider’s stock, valued at approximately $40,000.

Other hedge funds have also bought and sold shares of the company. Halbert Hargrove Global Advisors LLC bought a new position in Loews during the 4th quarter valued at $26,000. Minot DeBlois Advisors LLC bought a new stake in shares of Loews during the 4th quarter worth $27,000. Itau Unibanco Holding S.A. raised its stake in shares of Loews by 387.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 345 shares during the period. Human Investing LLC bought a new stake in shares of Loews during the 4th quarter worth $51,000. Finally, Graney & King LLC bought a new stake in shares of Loews during the 4th quarter worth $56,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Loews from a “hold” rating to a “buy” rating in a research note on Tuesday, May 6th.

Insider Buying and Selling

In other Loews news, SVP Richard Waldo Scott sold 9,019 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $87.92, for a total value of $792,950.48. Following the completion of the sale, the senior vice president now owns 33,901 shares in the company, valued at approximately $2,980,575.92. The trade was a 21.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 18.70% of the stock is currently owned by corporate insiders.

Loews Stock Up 0.7%

Shares of NYSE L opened at $89.20 on Friday. Loews Co. has a 12 month low of $73.15 and a 12 month high of $92.42. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $18.70 billion, a price-to-earnings ratio of 13.94 and a beta of 0.71. The business has a 50-day moving average of $87.14 and a 200-day moving average of $86.02.

Loews (NYSE:L) last issued its quarterly earnings data on Monday, May 5th. The insurance provider reported $1.74 EPS for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%. The company had revenue of $4.49 billion during the quarter.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were given a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.25 dividend on an annualized basis and a yield of 0.28%. Loews’s payout ratio is 4.11%.

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.