Quest Partners LLC Takes $129,000 Position in Loews Co. (NYSE:L)

Quest Partners LLC purchased a new stake in Loews Co. (NYSE:L) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,629 shares of the insurance provider’s stock, valued at approximately $129,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in L. Versant Capital Management Inc lifted its stake in Loews by 244.0% in the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock valued at $28,000 after buying an additional 266 shares in the last quarter. Eastern Bank purchased a new position in shares of Loews in the third quarter valued at approximately $47,000. Kimelman & Baird LLC acquired a new stake in shares of Loews in the second quarter worth approximately $45,000. Family Firm Inc. purchased a new stake in shares of Loews during the second quarter worth approximately $46,000. Finally, Innealta Capital LLC acquired a new position in Loews in the 2nd quarter valued at $51,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Stock Performance

Shares of Loews stock opened at $87.05 on Friday. The business’s fifty day simple moving average is $81.04 and its 200-day simple moving average is $78.64. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48. The firm has a market cap of $18.96 billion, a PE ratio of 11.56 and a beta of 0.82. Loews Co. has a 52 week low of $67.20 and a 52 week high of $87.45.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 27th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Wednesday, November 27th. Loews’s payout ratio is 3.32%.

Insider Activity at Loews

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $83.26, for a total value of $4,163,000.00. Following the sale, the director now directly 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jonathan M. Tisch sold 62,500 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $80.84, for a total value of $5,052,500.00. Following the completion of the sale, the insider now owns 6,781,634 shares in the company, valued at approximately $548,227,292.56. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 213,587 shares of company stock worth $17,586,460 in the last three months. 18.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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.