Martingale Asset Management L P Has $20.64 Million Stock Holdings in Loews Co. (NYSE:L)

Martingale Asset Management L P decreased its holdings in shares of Loews Co. (NYSE:L - Free Report) by 28.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 261,121 shares of the insurance provider's stock after selling 104,833 shares during the quarter. Martingale Asset Management L P owned about 0.12% of Loews worth $20,642,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Versant Capital Management Inc grew its position in shares of Loews by 244.0% during the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider's stock worth $28,000 after buying an additional 266 shares during the period. Brooklyn Investment Group acquired a new position in Loews during the third quarter valued at approximately $40,000. Kimelman & Baird LLC bought a new stake in Loews in the second quarter valued at approximately $45,000. Family Firm Inc. acquired a new stake in Loews in the second quarter worth $46,000. Finally, Eastern Bank acquired a new position in shares of Loews in the 3rd quarter valued at $47,000. 58.33% of the stock is owned by institutional investors.

Loews Stock Down 0.4 %

Loews stock traded down $0.32 during midday trading on Friday, reaching $86.73. The stock had a trading volume of 408,303 shares, compared to its average volume of 713,804. The stock has a market capitalization of $18.89 billion, a P/E ratio of 11.56 and a beta of 0.82. The firm's fifty day simple moving average is $81.04 and its 200-day simple moving average is $78.64. 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 1-year low of $67.20 and a 1-year high of $87.45.

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th will be given 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 of this dividend is Wednesday, November 27th. Loews's dividend payout ratio is presently 3.32%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, Director Ann E. Berman sold 1,087 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the transaction, the director now directly owns 4,998 shares in the company, valued at $406,737.24. The trade was a 17.86 % decrease in their position. The transaction was disclosed in a document filed 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 that occurred on Thursday, September 5th. The shares were sold at an average price of $80.84, for a total value of $5,052,500.00. Following the completion of the sale, the insider now owns 6,781,634 shares in the company, valued at $548,227,292.56. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 213,587 shares of company stock worth $17,586,460. 18.70% of the stock is owned by insiders.

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.