Intech Investment Management LLC Acquires 10,213 Shares of Loews Co. (NYSE:L)

Intech Investment Management LLC grew its stake in Loews Co. (NYSE:L - Free Report) by 8.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 137,566 shares of the insurance provider's stock after purchasing an additional 10,213 shares during the period. Intech Investment Management LLC owned approximately 0.06% of Loews worth $10,875,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in shares of Loews by 244.0% in the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider's stock worth $28,000 after acquiring an additional 266 shares in the last quarter. Kimelman & Baird LLC acquired a new position in shares of Loews in the 2nd quarter worth approximately $45,000. Family Firm Inc. acquired a new position in shares of Loews in the 2nd quarter worth approximately $46,000. Eastern Bank acquired a new position in shares of Loews in the 3rd quarter worth approximately $47,000. Finally, Innealta Capital LLC acquired a new position in shares of Loews in the 2nd quarter worth approximately $51,000. 58.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Royal Bank of Canada raised Loews to a "moderate buy" rating in a report on Friday, July 26th. Jefferies Financial Group reduced their price objective on Loews from $115.00 to $112.00 and set a "buy" rating on the stock in a report on Wednesday, July 31st. Finally, StockNews.com downgraded Loews from a "strong-buy" rating to a "buy" rating in a report on Wednesday.

Loews Trading Up 1.1 %

Shares of L stock traded up $0.90 during trading hours on Friday, reaching $86.07. The company had a trading volume of 653,586 shares, compared to its average volume of 714,428. The company has a 50 day moving average of $80.29 and a 200 day moving average of $78.34. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a market cap of $18.74 billion, a price-to-earnings ratio of 11.32 and a beta of 0.82. Loews Co. has a 1-year low of $67.20 and a 1-year high of $86.27.

Loews Dividend Announcement

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

Insider Activity

In related news, Director Andrew H. Tisch sold 50,000 shares of the company's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $83.26, for a total value of $4,163,000.00. Following the completion of the sale, the director now owns 11,939,677 shares in the company, valued at $994,097,507.02. This represents a 0.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan M. Tisch sold 62,500 shares of the company's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $80.84, for a total transaction of $5,052,500.00. Following the completion of the sale, the insider now owns 6,781,634 shares of the company's stock, valued at approximately $548,227,292.56. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 213,587 shares of company stock valued at $17,586,460 in the last 90 days. 18.70% of the stock is owned by company insiders.

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.