Loews Co. (NYSE:L) Shares Bought by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC boosted its holdings in shares of Loews Co. (NYSE:L) by 65.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,300 shares of the insurance provider’s stock after buying an additional 1,700 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Loews were worth $364,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in L. Brooklyn Investment Group purchased a new stake in shares of Loews in the 3rd quarter valued at approximately $40,000. Kimelman & Baird LLC purchased a new stake in shares of Loews in the 2nd quarter valued at approximately $45,000. Eastern Bank purchased a new stake in shares of Loews in the 3rd quarter valued at approximately $47,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Loews in the 3rd quarter valued at approximately $49,000. Finally, Quest Partners LLC purchased a new stake in shares of Loews in the 3rd quarter valued at approximately $129,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Loews news, Director Charles M. Diker sold 1,146 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total transaction of $99,507.18. Following the transaction, the director now directly owns 19,906 shares of the company’s stock, valued at approximately $1,728,437.98. This trade represents a 5.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Andrew H. Tisch sold 50,000 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 11,939,677 shares in the company, valued at $994,097,507.02. The trade was a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,679 shares of company stock valued at $11,134,916. Insiders own 18.70% of the company’s stock.

Analyst Ratings Changes

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

Loews Trading Up 1.1 %

NYSE L opened at $84.83 on Friday. 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 firm’s fifty day moving average price is $84.60 and its 200 day moving average price is $81.12. The company has a market capitalization of $18.47 billion, a price-to-earnings ratio of 11.27 and a beta of 0.83. Loews Co. has a 12 month low of $71.45 and a 12 month high of $87.45.

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

Loews Dividend Announcement

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

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.