IMC Chicago LLC Takes $697,000 Position in Loews Co. (NYSE:L)

IMC Chicago LLC acquired a new stake in Loews Co. (NYSE:LFree Report) in the 4th quarter, HoldingsChannel reports. The fund acquired 10,012 shares of the insurance provider’s stock, valued at approximately $697,000.

Several other institutional investors and hedge funds have also modified their holdings of L. Commonwealth Equity Services LLC raised its holdings in Loews by 8.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 4,221 shares of the insurance provider’s stock worth $267,000 after purchasing an additional 313 shares during the period. Daiwa Securities Group Inc. raised its holdings in Loews by 5.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 15,994 shares of the insurance provider’s stock worth $1,013,000 after purchasing an additional 807 shares during the period. Coldstream Capital Management Inc. raised its holdings in Loews by 5.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,856 shares of the insurance provider’s stock worth $244,000 after purchasing an additional 201 shares during the period. California Public Employees Retirement System raised its holdings in shares of Loews by 0.9% during the third quarter. California Public Employees Retirement System now owns 357,842 shares of the insurance provider’s stock valued at $22,655,000 after acquiring an additional 3,271 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Loews by 10.1% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,640 shares of the insurance provider’s stock valued at $294,000 after acquiring an additional 425 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Price Performance

Shares of Loews stock traded down $0.76 during mid-day trading on Thursday, reaching $75.13. 32,083 shares of the stock traded hands, compared to its average volume of 735,123. The business has a 50-day moving average of $76.41 and a 200 day moving average of $72.93. Loews Co. has a fifty-two week low of $55.94 and a fifty-two week high of $78.55. The stock has a market capitalization of $16.63 billion, a PE ratio of 11.26 and a beta of 0.82. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50.

Loews (NYSE:LGet Free Report) last posted its quarterly earnings results on Monday, May 6th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter. The business had revenue of $4.23 billion during the quarter. Loews had a return on equity of 9.45% and a net margin of 9.27%.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th will be given a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $0.25 annualized dividend and a yield of 0.33%. Loews’s payout ratio is 3.71%.

Insider Buying and Selling

In related news, Director Paul J. Fribourg sold 951 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $75.02, for a total value of $71,344.02. Following the completion of the transaction, the director now directly owns 21,200 shares in the company, valued at $1,590,424. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jonathan M. Tisch sold 50,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $77.24, for a total transaction of $3,862,000.00. Following the completion of the transaction, the insider now directly owns 507,799 shares in the company, valued at $39,222,394.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Paul J. Fribourg sold 951 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $75.02, for a total value of $71,344.02. Following the transaction, the director now owns 21,200 shares of the company’s stock, valued at $1,590,424. The disclosure for this sale can be found here. Over the last three months, insiders sold 150,951 shares of company stock worth $11,659,844. Company insiders own 18.70% of the company’s stock.

About Loews

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding L? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Loews Co. (NYSE:LFree Report).

Institutional Ownership by Quarter for Loews (NYSE:L)

Receive News & Ratings for Loews Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Loews and related companies with MarketBeat.com's FREE daily email newsletter.