Lafayette Investments Inc. Sells 425 Shares of Loews Co. (NYSE:L)

Lafayette Investments Inc. lowered its stake in Loews Co. (NYSE:L) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 77,505 shares of the insurance provider’s stock after selling 425 shares during the quarter. Loews comprises approximately 1.3% of Lafayette Investments Inc.’s investment portfolio, making the stock its 24th biggest holding. Lafayette Investments Inc.’s holdings in Loews were worth $5,394,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. SteelPeak Wealth LLC bought a new stake in shares of Loews in the fourth quarter worth $1,909,000. SG Americas Securities LLC raised its position in Loews by 112.1% during the fourth quarter. SG Americas Securities LLC now owns 49,417 shares of the insurance provider’s stock worth $3,439,000 after acquiring an additional 26,120 shares in the last quarter. Pacer Advisors Inc. raised its position in Loews by 405.5% during the fourth quarter. Pacer Advisors Inc. now owns 62,406 shares of the insurance provider’s stock worth $4,343,000 after acquiring an additional 50,061 shares in the last quarter. Metis Global Partners LLC raised its position in Loews by 16.4% during the third quarter. Metis Global Partners LLC now owns 6,885 shares of the insurance provider’s stock worth $436,000 after acquiring an additional 970 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new stake in Loews during the third quarter worth $548,000. Institutional investors own 58.33% of the company’s stock.

Loews Stock Performance

NYSE L traded up $1.13 on Friday, hitting $74.97. 127,542 shares of the stock were exchanged, compared to its average volume of 754,038. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.32 and a quick ratio of 0.32. The business’s fifty day moving average is $75.42 and its 200 day moving average is $70.70. Loews Co. has a 52 week low of $55.31 and a 52 week high of $78.55. The company has a market capitalization of $16.66 billion, a PE ratio of 11.72 and a beta of 0.83.

Loews (NYSE:L) last posted its quarterly earnings results on Monday, February 5th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%. The firm had revenue of $4.26 billion for the quarter.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Wednesday, February 21st were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend was Tuesday, February 20th. Loews’s payout ratio is presently 3.97%.

Insider Activity

In other news, Director Andrew H. Tisch sold 125,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total value of $9,130,000.00. Following the transaction, the director now directly owns 945,886 shares of the company’s stock, valued at $69,087,513.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Andrew H. Tisch sold 125,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total transaction of $9,130,000.00. Following the transaction, the director now directly owns 945,886 shares of the company’s stock, valued at $69,087,513.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Paul J. Fribourg sold 951 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $75.02, for a total transaction of $71,344.02. Following the transaction, the director now directly owns 21,200 shares in the company, valued at $1,590,424. The disclosure for this sale can be found here. Insiders have sold 137,563 shares of company stock valued at $10,052,551 over the last ninety days. 18.70% of the stock is currently owned by company insiders.

Loews 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.