Levin Capital Strategies L.P. Trims Stock Holdings in Loews Co. (NYSE:L)

Levin Capital Strategies L.P. decreased its position in Loews Co. (NYSE:L) by 5.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,772 shares of the insurance provider’s stock after selling 7,723 shares during the period. Levin Capital Strategies L.P. owned approximately 0.06% of Loews worth $9,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its stake in shares of Loews by 316.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 580,107 shares of the insurance provider’s stock valued at $36,727,000 after buying an additional 440,693 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Loews by 118.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 286,708 shares of the insurance provider’s stock worth $18,151,000 after purchasing an additional 155,713 shares during the last quarter. Barclays PLC boosted its holdings in shares of Loews by 34.9% during the 3rd quarter. Barclays PLC now owns 577,591 shares of the insurance provider’s stock worth $36,568,000 after purchasing an additional 149,500 shares during the last quarter. Bank of Nova Scotia boosted its holdings in shares of Loews by 115.4% during the 3rd quarter. Bank of Nova Scotia now owns 270,421 shares of the insurance provider’s stock worth $17,120,000 after purchasing an additional 144,902 shares during the last quarter. Finally, Jump Financial LLC boosted its holdings in shares of Loews by 3,984.2% during the 3rd quarter. Jump Financial LLC now owns 146,910 shares of the insurance provider’s stock worth $9,301,000 after purchasing an additional 143,313 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Insider Activity

In other news, insider Jonathan M. Tisch sold 4,287 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $71.91, for a total value of $308,278.17. Following the completion of the sale, the insider now directly owns 106,870 shares of the company’s stock, valued at $7,685,021.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Jonathan M. Tisch sold 4,287 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $71.91, for a total transaction of $308,278.17. Following the completion of the transaction, the insider now directly owns 106,870 shares of the company’s stock, valued at $7,685,021.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul J. Fribourg sold 951 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $75.02, for a total transaction of $71,344.02. Following the transaction, the director now directly owns 21,200 shares of the company’s stock, valued at $1,590,424. The disclosure for this sale can be found here. Over the last three months, insiders sold 137,563 shares of company stock valued at $10,052,551. Insiders own 18.70% of the company’s stock.

Loews Trading Up 0.6 %

NYSE L traded up $0.47 on Thursday, reaching $76.75. The stock had a trading volume of 230,511 shares, compared to its average volume of 747,375. The firm has a market capitalization of $17.05 billion, a price-to-earnings ratio of 12.16 and a beta of 0.82. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.48. Loews Co. has a 12-month low of $55.94 and a 12-month high of $78.55. The stock has a fifty day moving average price of $75.83 and a two-hundred day moving average price of $71.57.

Loews (NYSE:L) last posted its quarterly earnings results on Monday, February 5th. The insurance provider reported $1.99 EPS for the quarter. The business had revenue of $4.26 billion during the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Wednesday, February 21st were paid a $0.0625 dividend. The ex-dividend date was Tuesday, February 20th. This represents a $0.25 annualized dividend and a yield of 0.33%. Loews’s dividend payout ratio is presently 3.97%.

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.