Lafayette Investments Inc. Reduces Stock Position in Loews Co. (NYSE:L)

Lafayette Investments Inc. cut its stake in shares of Loews Co. (NYSE:L) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 74,075 shares of the insurance provider’s stock after selling 1,899 shares during the period. Loews comprises approximately 1.3% of Lafayette Investments Inc.’s holdings, making the stock its 21st largest position. Lafayette Investments Inc.’s holdings in Loews were worth $6,273,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of L. Halbert Hargrove Global Advisors LLC bought a new stake in Loews during the fourth quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Loews in the 3rd quarter worth $49,000. Human Investing LLC bought a new position in Loews in the 4th quarter worth $51,000. Graney & King LLC purchased a new position in Loews during the fourth quarter valued at $56,000. Finally, Intact Investment Management Inc. purchased a new stake in Loews in the fourth quarter worth about $68,000. 58.33% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Loews news, Director Jonathan M. Tisch sold 47,636 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the completion of the transaction, the director now owns 6,705,529 shares of the company’s stock, valued at $569,165,301.52. This represents a 0.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan M. Tisch sold 3,691 shares of Loews stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. Insiders sold 151,327 shares of company stock worth $12,851,055 in the last three months. 18.70% of the stock is owned by company insiders.

Loews Stock Performance

Shares of NYSE L opened at $86.35 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. Loews Co. has a 1 year low of $72.91 and a 1 year high of $92.42. The firm has a fifty day moving average price of $85.95 and a 200-day moving average price of $84.10. The stock has a market cap of $18.16 billion, a PE ratio of 13.49 and a beta of 0.60.

Loews (NYSE:L) last posted its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 EPS for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.0625 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a yield of 0.29%. Loews’s dividend payout ratio is presently 3.91%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut 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.