Trust Point Inc. Has $415,000 Position in Loews Co. (NYSE:L)

Trust Point Inc. increased its stake in Loews Co. (NYSE:L) by 11.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,906 shares of the insurance provider’s stock after purchasing an additional 507 shares during the quarter. Trust Point Inc.’s holdings in Loews were worth $415,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Optas LLC raised its stake in shares of Loews by 101.4% in the fourth quarter. Optas LLC now owns 16,286 shares of the insurance provider’s stock valued at $1,379,000 after purchasing an additional 8,200 shares in the last quarter. Brewster Financial Planning LLC acquired a new position in shares of Loews in the fourth quarter valued at $305,000. Mediolanum International Funds Ltd grew its position in Loews by 66.0% in the fourth quarter. Mediolanum International Funds Ltd now owns 28,565 shares of the insurance provider’s stock valued at $2,405,000 after acquiring an additional 11,356 shares during the period. Swedbank AB grew its position in Loews by 1.2% in the fourth quarter. Swedbank AB now owns 384,346 shares of the insurance provider’s stock valued at $32,550,000 after acquiring an additional 4,699 shares during the period. Finally, Forsta AP Fonden grew its position in Loews by 56.4% in the fourth quarter. Forsta AP Fonden now owns 71,000 shares of the insurance provider’s stock valued at $6,013,000 after acquiring an additional 25,600 shares during the period. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Price Performance

Loews stock opened at $86.26 on Thursday. The business’s 50-day simple moving average is $84.70 and its 200 day simple moving average is $81.66. The stock has a market cap of $18.79 billion, a price-to-earnings ratio of 11.46 and a beta of 0.83. Loews Co. has a 12-month low of $71.52 and a 12-month 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.

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

Loews Dividend Announcement

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

Analysts Set New Price Targets

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

Insider Transactions at Loews

In related news, Director Andrew H. Tisch sold 7,533 shares of Loews stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total value of $635,408.55. Following the sale, the director now owns 1,568,191 shares of the company’s stock, valued at approximately $132,276,910.85. This trade represents a 0.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles M. Diker sold 1,146 shares of Loews stock in a transaction that occurred on 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 sale, the director now directly owns 19,906 shares in the company, valued at approximately $1,728,437.98. This represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,679 shares of company stock valued at $11,134,916 over the last 90 days. 18.70% of the stock is owned by company insiders.

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.