Proficio Capital Partners LLC Takes $5.36 Million Position in Loews Co. (NYSE:L)

Proficio Capital Partners LLC bought a new stake in shares of Loews Co. (NYSE:L - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 63,277 shares of the insurance provider's stock, valued at approximately $5,359,000.

Other large investors also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Loews in the fourth quarter worth $26,000. Brooklyn Investment Group acquired a new position in shares of Loews in the third quarter worth $40,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Loews in the third quarter worth $49,000. Human Investing LLC acquired a new position in shares of Loews in the fourth quarter worth $51,000. Finally, Assetmark Inc. increased its stake in shares of Loews by 117.2% in the fourth quarter. Assetmark Inc. now owns 832 shares of the insurance provider's stock worth $70,000 after acquiring an additional 449 shares during the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Loews from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th.

Loews Stock Up 0.4 %

NYSE:L traded up $0.34 during trading hours on Thursday, reaching $88.14. The company's stock had a trading volume of 940,442 shares, compared to its average volume of 654,016. The company has a market cap of $18.76 billion, a price-to-earnings ratio of 13.77 and a beta of 0.80. Loews Co. has a one year low of $72.91 and a one year high of $88.63. The business's 50-day moving average is $85.01 and its 200-day moving average is $82.98. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34.

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Loews (NYSE:L - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Wednesday, February 26th. Loews's dividend payout ratio (DPR) is 3.91%.

Insider Buying and Selling at Loews

In other Loews news, Director Jonathan M. Tisch sold 3,691 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $86.89, for a total transaction of $320,710.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan M. Tisch sold 47,636 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the transaction, the director now directly owns 6,705,529 shares of the company's stock, valued at $569,165,301.52. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 158,860 shares of company stock worth $13,486,463 over the last ninety days. 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.