Caprock Group LLC Has $1.69 Million Stock Position in Loews Co. (NYSE:L)

Caprock Group LLC lowered its position in shares of Loews Co. (NYSE:L) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,407 shares of the insurance provider’s stock after selling 287 shares during the quarter. Caprock Group LLC’s holdings in Loews were worth $1,692,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in L. Versant Capital Management Inc increased its position in 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 acquiring an additional 266 shares in the last quarter. Eastern Bank acquired a new stake in Loews in the 3rd quarter valued at about $47,000. Kimelman & Baird LLC acquired a new stake in Loews in the 2nd quarter valued at about $45,000. Family Firm Inc. acquired a new stake in Loews in the 2nd quarter valued at about $46,000. Finally, Innealta Capital LLC acquired a new stake in Loews in the 2nd quarter valued at about $51,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Jefferies Financial Group lowered their price objective on shares of Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Royal Bank of Canada raised shares of Loews to a “moderate buy” rating in a research note on Friday, July 26th. Finally, StockNews.com lowered shares of Loews from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

Insider Buying and Selling at Loews

In other news, Director Andrew H. Tisch sold 75,000 shares of Loews stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $83.16, for a total value of $6,237,000.00. Following the sale, the director now directly owns 12,089,677 shares in the company, valued at $1,005,377,539.32. This trade represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan M. Tisch sold 25,000 shares of the business’s stock in a transaction 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 transaction, the insider now owns 461,395 shares in the company, valued at approximately $37,751,338.90. The trade was a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,587 shares of company stock valued at $17,586,460. 18.70% of the stock is currently owned by corporate insiders.

Loews Stock Up 0.4 %

Loews stock opened at $84.49 on Thursday. The company’s 50 day simple moving average is $80.14 and its 200 day simple moving average is $78.29. Loews Co. has a fifty-two week low of $67.20 and a fifty-two week high of $84.68. The firm has a market capitalization of $18.40 billion, a price-to-earnings ratio of 11.22 and a beta of 0.82. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34.

Loews Dividend Announcement

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. This represents a $0.25 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Wednesday, November 27th. Loews’s payout ratio is currently 3.32%.

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.