Vinva Investment Management Ltd Boosts Stock Position in Loews Co. (NYSE:L)

Vinva Investment Management Ltd increased its holdings in shares of Loews Co. (NYSE:L - Free Report) by 251.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,646 shares of the insurance provider's stock after buying an additional 44,123 shares during the quarter. Vinva Investment Management Ltd's holdings in Loews were worth $4,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in L. Versant Capital Management Inc grew its stake in Loews by 244.0% during the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider's stock valued at $28,000 after purchasing an additional 266 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Loews during the 3rd quarter valued at about $40,000. Kimelman & Baird LLC purchased a new stake in Loews during the 2nd quarter valued at about $45,000. Family Firm Inc. purchased a new stake in Loews during the 2nd quarter valued at about $46,000. Finally, Eastern Bank purchased a new stake in Loews during the 3rd quarter valued at about $47,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Loews news, insider Jonathan M. Tisch sold 25,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the completion of the transaction, the insider now owns 461,395 shares of the company's stock, valued at $37,751,338.90. This represents a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew H. Tisch sold 50,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 11,939,677 shares of the company's stock, valued at $994,097,507.02. The trade was a 0.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 213,587 shares of company stock valued at $17,586,460. 18.70% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Loews Stock Performance

Shares of L stock traded down $0.27 on Friday, hitting $86.78. The company had a trading volume of 408,303 shares, compared to its average volume of 713,804. The firm has a market cap of $18.90 billion, a P/E ratio of 11.52 and a beta of 0.82. The company has a 50-day moving average price of $81.20 and a 200-day moving average price of $78.71. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48. Loews Co. has a twelve month low of $67.20 and a twelve month high of $87.45.

Loews Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a yield of 0.29%. Loews's payout ratio is 3.32%.

Loews 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.