Synovus Financial Corp Makes New $205,000 Investment in Loews Co. (NYSE:L)

Synovus Financial Corp bought a new stake in Loews Co. (NYSE:L) in the third quarter, HoldingsChannel reports. The firm bought 2,591 shares of the insurance provider’s stock, valued at approximately $205,000.

Other hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in Loews in the third quarter worth about $40,000. Eastern Bank purchased a new stake in shares of Loews in the 3rd quarter worth approximately $47,000. Kimelman & Baird LLC bought a new position in Loews during the 2nd quarter valued at approximately $45,000. Family Firm Inc. bought a new position in Loews during the 2nd quarter valued at approximately $46,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Loews during the third quarter valued at $49,000. 58.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at Loews

In related news, Director Andrew H. Tisch sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $83.16, for a total value of $6,237,000.00. Following the sale, the director now owns 12,089,677 shares in the company, valued at approximately $1,005,377,539.32. This trade represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles M. Diker sold 1,146 shares of the business’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 sale, the director now owns 19,906 shares of the company’s stock, valued at approximately $1,728,437.98. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 126,146 shares of company stock worth $10,499,507. Insiders own 18.70% of the company’s stock.

Loews Trading Up 0.2 %

Shares of NYSE L opened at $81.66 on Friday. The firm’s 50 day moving average price is $82.91 and its 200-day moving average price is $79.55. Loews Co. has a 52-week low of $67.85 and a 52-week high of $87.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market cap of $17.78 billion, a PE ratio of 10.84 and a beta of 0.83.

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 27th were given a $0.0625 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $0.25 annualized dividend and a yield of 0.31%. Loews’s dividend payout ratio (DPR) is presently 3.32%.

Loews 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.