Private Management Group Inc. Acquires Shares of 2,900 Loews Co. (NYSE:L)

Private Management Group Inc. acquired a new stake in Loews Co. (NYSE:L) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 2,900 shares of the insurance provider’s stock, valued at approximately $202,000.

Several other large investors also recently added to or reduced their stakes in L. NBC Securities Inc. acquired a new position in Loews in the 3rd quarter valued at about $29,000. Operose Advisors LLC acquired a new position in Loews during the 3rd quarter worth approximately $30,000. Desjardins Global Asset Management Inc. grew its holdings in Loews by 225.2% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 340 shares in the last quarter. Lindbrook Capital LLC grew its holdings in Loews by 41.4% during the 4th quarter. Lindbrook Capital LLC now owns 611 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 179 shares in the last quarter. Finally, Washington Trust Advisors Inc. acquired a new position in Loews during the 3rd quarter worth approximately $51,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Andrew H. Tisch sold 125,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total value of $9,130,000.00. Following the completion of the transaction, the director now owns 945,886 shares in the company, valued at approximately $69,087,513.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Loews news, Director Paul J. Fribourg sold 951 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $75.02, for a total transaction of $71,344.02. Following the completion of the transaction, the director now directly owns 21,200 shares in the company, valued at approximately $1,590,424. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew H. Tisch sold 125,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total transaction of $9,130,000.00. Following the transaction, the director now owns 945,886 shares of the company’s stock, valued at $69,087,513.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,563 shares of company stock worth $10,052,551. 18.70% of the stock is owned by insiders.

Loews Stock Up 0.1 %

NYSE L traded up $0.09 on Wednesday, hitting $76.81. 515,480 shares of the stock were exchanged, compared to its average volume of 754,608. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.48. Loews Co. has a fifty-two week low of $55.31 and a fifty-two week high of $78.55. The company has a market cap of $17.07 billion, a PE ratio of 12.16 and a beta of 0.83. The company has a 50-day moving average price of $75.63 and a 200-day moving average price of $71.11.

Loews (NYSE:L) last issued its earnings results on Monday, February 5th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%. The business had revenue of $4.26 billion during the quarter.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Wednesday, February 21st were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Tuesday, February 20th. Loews’s dividend payout ratio is currently 3.97%.

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.