HighTower Advisors LLC Increases Stake in Loews Co. (NYSE:L)

HighTower Advisors LLC grew its position in Loews Co. (NYSE:L) by 0.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 65,219 shares of the insurance provider’s stock after purchasing an additional 127 shares during the quarter. HighTower Advisors LLC’s holdings in Loews were worth $5,154,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of L. Optas LLC boosted its position in shares of Loews by 1.9% during the second quarter. Optas LLC now owns 8,086 shares of the insurance provider’s stock valued at $604,000 after buying an additional 151 shares during the last quarter. Summit Trail Advisors LLC boosted its holdings in shares of Loews by 2.6% during the 3rd quarter. Summit Trail Advisors LLC now owns 6,038 shares of the insurance provider’s stock valued at $477,000 after acquiring an additional 153 shares during the last quarter. Atomi Financial Group Inc. grew its stake in shares of Loews by 4.3% in the third quarter. Atomi Financial Group Inc. now owns 4,111 shares of the insurance provider’s stock worth $325,000 after acquiring an additional 169 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of Loews by 6.2% during the second quarter. Sequoia Financial Advisors LLC now owns 3,195 shares of the insurance provider’s stock valued at $239,000 after purchasing an additional 186 shares during the last quarter. Finally, Ballentine Partners LLC lifted its position in Loews by 5.2% during the third quarter. Ballentine Partners LLC now owns 3,772 shares of the insurance provider’s stock valued at $298,000 after purchasing an additional 187 shares during the period. 58.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Loews from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th.

Insider Activity at Loews

In other Loews news, Director Charles M. Diker sold 1,146 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total transaction of $99,507.18. Following the sale, the director now owns 19,906 shares in the company, valued at approximately $1,728,437.98. This trade represents a 5.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew H. Tisch sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $83.16, for a total transaction of $6,237,000.00. Following the completion of the transaction, the director now owns 12,089,677 shares of the company’s stock, 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. Over the last ninety days, insiders sold 126,146 shares of company stock worth $10,499,507. 18.70% of the stock is owned by company insiders.

Loews Stock Down 1.2 %

L stock opened at $83.97 on Wednesday. The business’s 50-day moving average is $82.07 and its two-hundred day moving average is $79.14. The company has a market cap of $18.29 billion, a price-to-earnings ratio of 11.15 and a beta of 0.83. Loews Co. has a fifty-two week low of $67.20 and a fifty-two week high of $87.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 27th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend was Wednesday, November 27th. Loews’s payout ratio is 3.32%.

About Loews

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.