Loews Co. (NYSE:L) Shares Acquired by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Loews Co. (NYSE:L) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,101 shares of the insurance provider’s stock after buying an additional 1,252 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Loews were worth $1,618,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its stake in Loews by 345.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 296,538 shares of the insurance provider’s stock valued at $25,114,000 after acquiring an additional 229,965 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Loews by 92.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,484 shares of the insurance provider’s stock valued at $37,745,000 after purchasing an additional 229,956 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Loews by 22.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 569,156 shares of the insurance provider’s stock worth $44,992,000 after purchasing an additional 105,810 shares in the last quarter. Barclays PLC raised its position in shares of Loews by 13.1% during the 3rd quarter. Barclays PLC now owns 752,380 shares of the insurance provider’s stock worth $59,473,000 after purchasing an additional 87,259 shares during the last quarter. Finally, State Street Corp lifted its stake in Loews by 1.0% in the 3rd quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock valued at $638,506,000 after buying an additional 82,581 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Stock Performance

Shares of NYSE L opened at $86.40 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. The company has a market cap of $18.81 billion, a PE ratio of 11.47 and a beta of 0.83. The company has a 50-day simple moving average of $84.62 and a 200-day simple moving average of $81.28. Loews Co. has a 12 month low of $71.45 and a 12 month high of $87.45.

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

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Wednesday, November 27th. Loews’s dividend payout ratio (DPR) is 3.32%.

Insider Activity

In other news, Director Charles M. Diker sold 1,146 shares of the stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction on Friday, November 15th. The shares were sold at an average price of $83.26, for a total transaction of $4,163,000.00. Following the transaction, the director now owns 11,939,677 shares in the company, valued at $994,097,507.02. The trade was a 0.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,679 shares of company stock valued at $11,134,916 in the last 90 days. 18.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

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.