24,591 Shares in Loews Co. (NYSE:L) Purchased by Entropy Technologies LP

Entropy Technologies LP acquired a new position in shares of Loews Co. (NYSE:L) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 24,591 shares of the insurance provider’s stock, valued at approximately $2,083,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new stake in Loews in the 3rd quarter worth about $40,000. Eastern Bank bought a new position in Loews during the third quarter worth about $47,000. Wilmington Savings Fund Society FSB bought a new position in Loews during the third quarter worth about $49,000. Quest Partners LLC purchased a new position in shares of Loews in the third quarter worth about $129,000. Finally, Blue Trust Inc. raised its position in shares of Loews by 240.5% in the third quarter. Blue Trust Inc. now owns 2,360 shares of the insurance provider’s stock valued at $176,000 after purchasing an additional 1,667 shares during the period. Institutional investors own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

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

Loews Stock Performance

Shares of L opened at $86.65 on Monday. Loews Co. has a 52-week low of $71.52 and a 52-week high of $87.45. The stock’s 50-day simple moving average is $84.68 and its 200 day simple moving average is $81.81. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a market capitalization of $18.87 billion, a price-to-earnings ratio of 11.51 and a beta of 0.83.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th were given a $0.0625 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. Loews’s dividend payout ratio (DPR) is currently 3.32%.

Insider Activity

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 11,939,677 shares of the company’s stock, valued at $994,097,507.02. This trade represents a 0.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles M. Diker sold 1,146 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total transaction of $99,507.18. Following the transaction, the director now owns 19,906 shares of the company’s stock, valued at $1,728,437.98. This trade represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,679 shares of company stock worth $11,134,916. 18.70% of the stock is owned by company insiders.

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.