Cognios Beta Neutral Large Cap Fund LP Sells 1,800 Shares of Loews Co. (NYSE:L)

Cognios Beta Neutral Large Cap Fund LP reduced its stake in shares of Loews Co. (NYSE:L) by 19.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 7,692 shares of the insurance provider’s stock after selling 1,800 shares during the period. Cognios Beta Neutral Large Cap Fund LP’s holdings in Loews were worth $535,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. NBC Securities Inc. purchased a new position in shares of Loews in the 3rd quarter worth approximately $29,000. Operose Advisors LLC purchased a new position in Loews in the third quarter valued at approximately $30,000. Desjardins Global Asset Management Inc. lifted its stake in Loews by 225.2% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 340 shares during the last quarter. Lindbrook Capital LLC lifted its stake in Loews by 41.4% in the fourth quarter. Lindbrook Capital LLC now owns 611 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 179 shares during the last quarter. Finally, Washington Trust Advisors Inc. purchased a new position in Loews in the third quarter valued at approximately $51,000. 58.33% of the stock is owned by institutional investors.

Loews Stock Performance

Loews stock traded up $0.09 during trading on Wednesday, hitting $76.81. The stock had a trading volume of 515,480 shares, compared to its average volume of 758,103. Loews Co. has a 1 year low of $55.31 and a 1 year high of $78.55. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.48. The stock’s 50 day moving average is $75.63 and its two-hundred day moving average is $71.11. The stock has a market cap of $17.07 billion, a price-to-earnings ratio of 12.16 and a beta of 0.83.

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

Loews Announces Dividend

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

Insiders Place Their Bets

In other Loews news, Director Paul J. Fribourg sold 951 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $75.02, for a total transaction of $71,344.02. Following the sale, the director now owns 21,200 shares in the company, valued at $1,590,424. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Paul J. Fribourg sold 951 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $75.02, for a total value of $71,344.02. Following the transaction, the director now owns 21,200 shares of the company’s stock, valued at $1,590,424. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Andrew H. Tisch sold 125,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $73.04, for a total transaction of $9,130,000.00. Following the completion of the transaction, the director now directly owns 945,886 shares in the company, valued at approximately $69,087,513.44. The disclosure for this sale can be found here. Insiders have sold a total of 137,563 shares of company stock worth $10,052,551 over the last 90 days. 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.