Holocene Advisors LP Makes New Investment in Loews Co. (NYSE:L)

Holocene Advisors LP bought a new position in shares of Loews Co. (NYSE:L - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,389 shares of the insurance provider's stock, valued at approximately $821,000.

A number of other institutional investors have also recently bought and sold shares of the business. Swedbank AB grew its stake in shares of Loews by 15.6% in the second quarter. Swedbank AB now owns 349,047 shares of the insurance provider's stock valued at $26,088,000 after buying an additional 47,013 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Loews by 8.2% during the second quarter. Nisa Investment Advisors LLC now owns 122,208 shares of the insurance provider's stock worth $9,134,000 after acquiring an additional 9,296 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Loews by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider's stock valued at $127,409,000 after purchasing an additional 8,615 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Loews by 8.0% during the third quarter. Intech Investment Management LLC now owns 137,566 shares of the insurance provider's stock worth $10,875,000 after purchasing an additional 10,213 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Loews by 47.8% during the third quarter. PNC Financial Services Group Inc. now owns 37,319 shares of the insurance provider's stock worth $2,950,000 after purchasing an additional 12,070 shares during the period. Institutional investors and hedge funds own 58.33% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Loews from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, November 20th.

Insider Buying and Selling

In other news, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $83.26, for a total transaction of $4,163,000.00. Following the completion of the sale, the director now owns 11,939,677 shares in the company, valued at approximately $994,097,507.02. This trade represents a 0.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles M. Diker sold 1,146 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total value of $99,507.18. Following the completion of the sale, the director now owns 19,906 shares of the company's stock, valued at $1,728,437.98. The trade was a 5.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 126,146 shares of company stock valued at $10,499,507. 18.70% of the stock is owned by insiders.

Loews Stock Up 0.2 %

NYSE:L traded up $0.14 during trading hours on Friday, hitting $86.08. 560,186 shares of the company traded hands, compared to its average volume of 713,610. The company has a market cap of $18.75 billion, a PE ratio of 11.43 and a beta of 0.83. Loews Co. has a one year low of $67.20 and a one year high of $87.45. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48. The firm's 50-day simple moving average is $81.95 and its 200-day simple moving average is $79.06.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 27th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.29%. The ex-dividend date is Wednesday, November 27th. Loews's dividend payout ratio (DPR) is currently 3.32%.

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.