International Assets Investment Management LLC Increases Stock Position in Loews Co. (NYSE:L)

International Assets Investment Management LLC grew its stake in Loews Co. (NYSE:L - Free Report) by 8,975.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 69,248 shares of the insurance provider's stock after buying an additional 68,485 shares during the quarter. International Assets Investment Management LLC's holdings in Loews were worth $5,474,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc lifted its holdings in 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 last quarter. Eastern Bank purchased a new stake in Loews during the third quarter worth approximately $47,000. Kimelman & Baird LLC acquired a new position in Loews in the second quarter valued at approximately $45,000. Family Firm Inc. purchased a new position in Loews in the second quarter valued at approximately $46,000. Finally, Innealta Capital LLC acquired a new stake in Loews during the second quarter worth approximately $51,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Stock Performance

Shares of L stock traded up $0.31 during trading hours on Friday, reaching $79.27. 685,676 shares of the company's stock were exchanged, compared to its average volume of 608,592. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The company's 50 day moving average is $79.70 and its two-hundred day moving average is $77.68. The company has a market cap of $17.40 billion, a P/E ratio of 11.61 and a beta of 0.82. Loews Co. has a 1 year low of $64.48 and a 1 year high of $83.54.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 21st were issued a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.25 dividend on an annualized basis and a yield of 0.32%. Loews's dividend payout ratio (DPR) is presently 3.66%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Royal Bank of Canada upgraded Loews to a "moderate buy" rating in a research report on Friday, July 26th. Jefferies Financial Group reduced their price objective on Loews from $115.00 to $112.00 and set a "buy" rating for the company in a research note on Wednesday, July 31st.

Insider Activity

In other Loews news, insider Jonathan M. Tisch sold 25,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.82, for a total value of $2,045,500.00. Following the sale, the insider now owns 461,395 shares of the company's stock, valued at approximately $37,751,338.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jonathan M. Tisch sold 62,500 shares of Loews stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $80.84, for a total transaction of $5,052,500.00. Following the completion of the transaction, the insider now directly owns 6,781,634 shares in the company, valued at $548,227,292.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan M. Tisch sold 25,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total value of $2,045,500.00. Following the sale, the insider now owns 461,395 shares in the company, valued at approximately $37,751,338.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 88,587 shares of company stock worth $7,186,460. Company insiders own 18.70% of the company's stock.

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.