Park Avenue Securities LLC Purchases 1,680 Shares of Loews Co. (NYSE:L)

Park Avenue Securities LLC increased its position in Loews Co. (NYSE:L) by 54.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,780 shares of the insurance provider’s stock after acquiring an additional 1,680 shares during the period. Park Avenue Securities LLC’s holdings in Loews were worth $374,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in L. Altshuler Shaham Ltd bought a new stake in shares of Loews in the fourth quarter worth approximately $26,000. Northwest Financial Advisors purchased a new stake in Loews during the 4th quarter valued at $28,000. Desjardins Global Asset Management Inc. raised its stake in Loews by 225.2% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance provider’s stock valued at $34,000 after buying an additional 340 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Loews during the 4th quarter valued at $38,000. Finally, Lindbrook Capital LLC grew its holdings in shares of Loews by 41.4% in the fourth quarter. Lindbrook Capital LLC now owns 611 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 179 shares during the period. 58.33% of the stock is owned by institutional investors.

Loews Stock Down 0.7 %

Loews stock opened at $74.74 on Monday. The stock has a market cap of $16.55 billion, a PE ratio of 11.09 and a beta of 0.85. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a fifty day moving average of $75.93 and a 200 day moving average of $74.32. Loews Co. has a one year low of $58.21 and a one year high of $78.55.

Loews (NYSE:L) last issued its quarterly earnings data on Monday, May 6th. The insurance provider reported $2.05 earnings per share for the quarter. The firm had revenue of $4.23 billion for the quarter. Loews had a net margin of 9.27% and a return on equity of 9.45%.

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Wednesday, May 29th. Loews’s payout ratio is 3.71%.

Insider Transactions at Loews

In other news, insider Jonathan M. Tisch sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $77.24, for a total value of $3,862,000.00. Following the transaction, the insider now owns 507,799 shares of the company’s stock, valued at $39,222,394.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 150,000 shares of company stock worth $11,588,500 in the last three months. Corporate insiders own 18.70% of the company’s stock.

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.