Proficio Capital Partners LLC Takes $5.36 Million Position in Loews Co. (NYSE:L)

Proficio Capital Partners LLC acquired a new stake in Loews Co. (NYSE:L) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 63,277 shares of the insurance provider’s stock, valued at approximately $5,359,000.

A number of other hedge funds also recently made changes to their positions in L. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Loews during the 4th quarter worth about $26,000. Brooklyn Investment Group acquired a new stake in shares of Loews during the 3rd quarter worth about $40,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Loews during the 3rd quarter worth about $49,000. Human Investing LLC acquired a new stake in shares of Loews during the 4th quarter worth about $51,000. Finally, Assetmark Inc. increased its position in shares of Loews by 117.2% during the 4th quarter. Assetmark Inc. now owns 832 shares of the insurance provider’s stock worth $70,000 after purchasing an additional 449 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Activity

In other news, Director Andrew H. Tisch sold 7,533 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $84.35, for a total value of $635,408.55. Following the transaction, the director now owns 1,568,191 shares of the company’s stock, valued at approximately $132,276,910.85. This trade represents a 0.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan M. Tisch sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the completion of the transaction, the director now directly owns 7,105,529 shares in the company, valued at $604,538,407.32. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,860 shares of company stock valued at $13,486,463. 18.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Loews from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

Loews Trading Up 2.1 %

L opened at $86.56 on Monday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $18.43 billion, a PE ratio of 13.53 and a beta of 0.80. Loews Co. has a 1-year low of $72.91 and a 1-year high of $88.29. The firm has a 50-day moving average price of $84.75 and a two-hundred day moving average price of $82.87.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.29%. The ex-dividend date was Wednesday, February 26th. Loews’s payout ratio is presently 3.91%.

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.