Quarry LP Increases Position in Loews Co. (NYSE:L)

Quarry LP increased its stake in Loews Co. (NYSE:L) by 771.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,718 shares of the insurance provider’s stock after acquiring an additional 2,406 shares during the period. Quarry LP’s holdings in Loews were worth $215,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in L. Cetera Advisors LLC bought a new stake in Loews in the first quarter worth $339,000. CWM LLC lifted its stake in Loews by 10.2% in the second quarter. CWM LLC now owns 3,659 shares of the insurance provider’s stock worth $273,000 after purchasing an additional 338 shares during the last quarter. QRG Capital Management Inc. lifted its stake in Loews by 0.5% in the second quarter. QRG Capital Management Inc. now owns 113,657 shares of the insurance provider’s stock worth $8,495,000 after purchasing an additional 510 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Loews by 44.4% during the second quarter. SG Americas Securities LLC now owns 52,177 shares of the insurance provider’s stock valued at $3,900,000 after acquiring an additional 16,055 shares during the last quarter. Finally, Czech National Bank raised its stake in shares of Loews by 7.9% during the second quarter. Czech National Bank now owns 34,597 shares of the insurance provider’s stock valued at $2,586,000 after acquiring an additional 2,541 shares during the last quarter. 58.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Loews Stock Performance

Shares of NYSE:L opened at $85.97 on Friday. The company has a market cap of $18.72 billion, a price-to-earnings ratio of 11.42 and a beta of 0.83. The company has a 50-day moving average price of $81.81 and a 200-day moving average price of $78.95. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. Loews Co. has a 12 month low of $67.20 and a 12 month high of $87.45.

Loews Dividend Announcement

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

Insider Buying and Selling

In related news, Director Charles M. Diker sold 1,146 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $86.83, for a total value of $99,507.18. Following the completion of the transaction, the director now directly owns 19,906 shares of the company’s stock, valued at $1,728,437.98. This represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 11,939,677 shares in the company, 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 126,146 shares of company stock valued at $10,499,507 over the last three months. Corporate insiders own 18.70% of the company’s stock.

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.