Los Angeles Capital Management LLC Reduces Stock Position in Loews Co. (NYSE:L)

Los Angeles Capital Management LLC lessened its stake in Loews Co. (NYSE:L - Free Report) by 80.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,131 shares of the insurance provider's stock after selling 16,925 shares during the quarter. Los Angeles Capital Management LLC's holdings in Loews were worth $327,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of L. Versant Capital Management Inc grew its holdings in shares of Loews by 244.0% in the second 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 period. Kimelman & Baird LLC purchased a new position in shares of Loews during the 2nd quarter worth $45,000. Family Firm Inc. acquired a new stake in shares of Loews during the 2nd quarter worth about $46,000. Eastern Bank acquired a new stake in shares of Loews during the third quarter valued at about $47,000. Finally, Innealta Capital LLC purchased a new stake in shares of Loews in the 2nd quarter valued at approximately $51,000. Hedge funds and other institutional investors own 58.33% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on L shares. Royal Bank of Canada upgraded shares of Loews to a "moderate buy" rating in a report on Friday, July 26th. StockNews.com raised Loews from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group cut 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.

Loews Stock Up 0.9 %

NYSE L traded up $0.74 on Monday, hitting $84.41. 491,862 shares of the stock were exchanged, compared to its average volume of 713,890. Loews Co. has a fifty-two week low of $66.60 and a fifty-two week high of $84.59. The company has a 50-day moving average price of $79.83 and a 200-day moving average price of $78.13. The company has a market cap of $18.38 billion, a PE ratio of 11.21 and a beta of 0.82. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 dividend yield of 0.30%. Loews's payout ratio is 3.32%.

Insider Transactions at Loews

In other Loews news, insider Jonathan M. Tisch sold 25,000 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the transaction, the insider now directly owns 461,395 shares in the company, valued at approximately $37,751,338.90. This represents a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ann E. Berman sold 1,087 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total value of $88,460.06. Following the completion of the transaction, the director now directly owns 4,998 shares of the company's stock, valued at $406,737.24. The trade was a 17.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 213,587 shares of company stock worth $17,586,460 over the last 90 days. 18.70% of the stock is currently owned by 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.