Mount Lucas Management LP Has $3.47 Million Holdings in Loews Co. (NYSE:L)

Mount Lucas Management LP decreased its position in shares of Loews Co. (NYSE:L - Free Report) by 53.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,879 shares of the insurance provider's stock after selling 50,724 shares during the period. Loews makes up 1.2% of Mount Lucas Management LP's holdings, making the stock its 10th biggest position. Mount Lucas Management LP's holdings in Loews were worth $3,469,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc raised its position 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 valued at $28,000 after buying an additional 266 shares in the last quarter. Eastern Bank acquired a new position in Loews during the 3rd quarter worth about $47,000. 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 shares of Loews during the second quarter worth $46,000. Finally, Innealta Capital LLC acquired a new stake in Loews during the 2nd quarter worth about $51,000. Institutional investors and hedge funds own 58.33% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on L shares. Jefferies Financial Group cut their target price on shares of Loews from $115.00 to $112.00 and set a "buy" rating on the stock in a research note on Wednesday, July 31st. StockNews.com upgraded Loews from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada upgraded Loews to a "moderate buy" rating in a research note on Friday, July 26th.

Insiders Place Their Bets

In related news, insider Jonathan M. Tisch sold 25,000 shares of the company's 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 in the company, 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 75,000 shares of the business's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $83.16, for a total transaction of $6,237,000.00. Following the transaction, the director now directly owns 12,089,677 shares in the company, valued at approximately $1,005,377,539.32. The trade was a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 213,587 shares of company stock valued at $17,586,460 over the last 90 days. Insiders own 18.70% of the company's stock.

Loews Price Performance

L stock traded up $0.87 during mid-day trading on Friday, reaching $83.67. 937,834 shares of the company traded hands, compared to its average volume of 717,979. Loews Co. has a 52-week low of $66.60 and a 52-week high of $84.56. 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 company has a market capitalization of $18.22 billion, a P/E ratio of 11.11 and a beta of 0.82. The company has a fifty day moving average price of $79.83 and a 200-day moving average price of $78.12.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th will be paid a $0.0625 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a yield of 0.30%. Loews's dividend payout ratio is presently 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.