Kovitz Investment Group Partners LLC Buys 21,654 Shares of Loews Co. (NYSE:L)

Kovitz Investment Group Partners LLC lifted its holdings in Loews Co. (NYSE:L - Free Report) by 56.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 60,041 shares of the insurance provider's stock after purchasing an additional 21,654 shares during the period. Kovitz Investment Group Partners LLC's holdings in Loews were worth $4,505,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Brooklyn Investment Group bought a new position in Loews during the third quarter valued at about $40,000. Eastern Bank bought a new stake in shares of Loews in the 3rd quarter valued at approximately $47,000. Kimelman & Baird LLC bought a new stake in shares of Loews in the 2nd quarter valued at approximately $45,000. Family Firm Inc. bought a new stake in shares of Loews in the 2nd quarter valued at approximately $46,000. Finally, Innealta Capital LLC bought a new stake in shares of Loews in the 2nd quarter valued at approximately $51,000. 58.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Loews Price Performance

Shares of NYSE L traded down $1.05 during midday trading on Monday, reaching $85.04. The company's stock had a trading volume of 598,690 shares, compared to its average volume of 713,828. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. Loews Co. has a fifty-two week low of $67.20 and a fifty-two week high of $87.45. The business's 50 day moving average price is $82.07 and its two-hundred day moving average price is $79.14. The company has a market cap of $18.52 billion, a P/E ratio of 11.29 and a beta of 0.83.

Loews Announces Dividend

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

Insider Buying and Selling at Loews

In related news, Director Charles M. Diker sold 1,146 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total value of $99,507.18. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Andrew H. Tisch sold 50,000 shares of the business's stock in a transaction on 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 directly owns 11,939,677 shares in the company, valued at approximately $994,097,507.02. This represents a 0.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 126,146 shares of company stock worth $10,499,507 over the last three months. Corporate insiders own 18.70% of the company's stock.

About Loews

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.