GAMMA Investing LLC Boosts Stock Holdings in Loews Co. (NYSE:L)

GAMMA Investing LLC boosted its position in Loews Co. (NYSE:L) by 23.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,580 shares of the insurance provider’s stock after acquiring an additional 1,253 shares during the quarter. GAMMA Investing LLC’s holdings in Loews were worth $557,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in shares of Loews in the 3rd quarter valued at approximately $40,000. Kimelman & Baird LLC acquired a new position in Loews during the second quarter worth $45,000. Eastern Bank purchased a new position in Loews in the third quarter worth $47,000. Wilmington Savings Fund Society FSB acquired a new stake in Loews in the third quarter valued at $49,000. Finally, Quest Partners LLC purchased a new stake in shares of Loews during the 3rd quarter worth $129,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Price Performance

Shares of NYSE:L opened at $84.35 on Monday. The firm has a market capitalization of $18.37 billion, a price-to-earnings ratio of 11.20 and a beta of 0.83. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. The business’s 50 day simple moving average is $83.73 and its 200-day simple moving average is $80.34. Loews Co. has a 12 month low of $70.23 and a 12 month high of $87.45.

Loews Announces Dividend

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Loews

In related news, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $83.26, for a total value of $4,163,000.00. Following the sale, the director now owns 11,939,677 shares of the company’s stock, valued at approximately $994,097,507.02. This represents a 0.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles M. Diker sold 1,146 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total value of $99,507.18. Following the transaction, the director now directly owns 19,906 shares of the company’s stock, valued at $1,728,437.98. The trade was a 5.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 126,146 shares of company stock valued at $10,499,507. Insiders own 18.70% of the company’s stock.

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.