Exchange Traded Concepts LLC Lowers Stock Position in Loews Co. (NYSE:L)

Exchange Traded Concepts LLC lessened its stake in shares of Loews Co. (NYSE:L) by 35.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,566 shares of the insurance provider’s stock after selling 15,523 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Loews were worth $2,419,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new position in Loews during the third quarter worth about $40,000. Eastern Bank purchased a new position in shares of Loews in the third quarter valued at approximately $47,000. Kimelman & Baird LLC purchased a new position in shares of Loews in the second quarter valued at approximately $45,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Loews in the third quarter valued at approximately $49,000. Finally, Quest Partners LLC purchased a new position in shares of Loews in the third quarter valued at approximately $129,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Trading Up 1.1 %

NYSE L opened at $84.83 on Monday. Loews Co. has a one year low of $71.45 and a one year high of $87.45. The firm has a 50 day simple moving average of $84.62 and a 200-day simple moving average of $81.24. 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 firm has a market cap of $18.47 billion, a price-to-earnings ratio of 11.27 and a beta of 0.83.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.82 earnings per share (EPS) for the quarter. Loews had a net margin of 9.71% and a return on equity of 9.70%. The company had revenue of $4.47 billion during the quarter.

Loews Announces Dividend

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

Insider Buying and Selling

In other Loews news, Director Charles M. Diker sold 1,146 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 19,906 shares of the company’s stock, valued at approximately $1,728,437.98. This trade represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew H. Tisch sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $83.16, for a total transaction of $6,237,000.00. Following the sale, the director now directly owns 12,089,677 shares in the company, valued at approximately $1,005,377,539.32. The trade was a 0.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,679 shares of company stock worth $11,134,916 over the last 90 days. 18.70% of the stock is owned by insiders.

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 Company 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.