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

Proficio Capital Partners LLC bought a new stake in shares of Loews Co. (NYSE:L) in the 4th quarter, HoldingsChannel.com reports. The firm bought 63,277 shares of the insurance provider’s stock, valued at approximately $5,359,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brooklyn Investment Group purchased a new position in Loews during the 3rd quarter worth approximately $40,000. Human Investing LLC acquired a new stake in shares of Loews in the fourth quarter worth $51,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Loews during the third quarter valued at $49,000. Venturi Wealth Management LLC grew its holdings in shares of Loews by 10.6% during the fourth quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider’s stock valued at $105,000 after buying an additional 119 shares in the last quarter. Finally, Principal Securities Inc. raised its position in Loews by 24.4% during the fourth quarter. Principal Securities Inc. now owns 1,440 shares of the insurance provider’s stock valued at $122,000 after buying an additional 282 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Activity

In other Loews news, Director Jonathan M. Tisch sold 50,000 shares of the stock in a transaction on 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 transaction, the director now directly owns 7,105,529 shares of the company’s stock, valued at $604,538,407.32. This represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Andrew H. Tisch sold 7,533 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $84.35, for a total value of $635,408.55. Following the completion of the sale, the director now directly owns 1,568,191 shares of the company’s stock, valued at $132,276,910.85. This represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,224 shares of company stock worth $5,210,120 in the last three months. 18.70% of the stock is owned by insiders.

Loews Stock Up 0.4 %

Loews stock opened at $87.06 on Tuesday. Loews Co. has a twelve month low of $72.91 and a twelve month high of $88.29. 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 firm has a market cap of $18.53 billion, a PE ratio of 13.60 and a beta of 0.83. The firm’s 50 day moving average price is $84.67 and its two-hundred day moving average price is $82.54.

Loews (NYSE:L) last posted its quarterly earnings results 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Wednesday, February 26th. Loews’s dividend payout ratio (DPR) is presently 3.91%.

Analyst Ratings Changes

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

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.