Loews Co. (NYSE:L) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC reduced its position in Loews Co. (NYSE:L) by 35.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor 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 filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in Loews in the 3rd quarter valued at $40,000. Eastern Bank acquired a new position in Loews in the 3rd quarter valued at $47,000. Kimelman & Baird LLC acquired a new position in Loews in the 2nd quarter valued at $45,000. Wilmington Savings Fund Society FSB acquired a new position in Loews in the 3rd quarter valued at $49,000. Finally, Quest Partners LLC acquired a new position in Loews in the 3rd quarter valued at $129,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director Charles M. Diker sold 1,146 shares of the 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 completion of the sale, the director now owns 19,906 shares of the company’s stock, valued at approximately $1,728,437.98. This represents a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew H. Tisch sold 50,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $83.26, for a total transaction 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 trade represents a 0.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,679 shares of company stock valued at $11,134,916 in the last 90 days. 18.70% of the stock is currently owned by insiders.

Loews Price Performance

Loews stock opened at $84.83 on Monday. Loews Co. has a 52 week low of $71.45 and a 52 week high of $87.45. 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’s 50-day simple moving average is $84.62 and its 200 day simple moving average is $81.24. The firm has a market capitalization of $18.47 billion, a PE ratio of 11.27 and a beta of 0.83.

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

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th were 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 of this dividend was Wednesday, November 27th. Loews’s dividend payout ratio is currently 3.32%.

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.