Loews Co. (NYSE:L) Shares Sold by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management cut its position in Loews Co. (NYSE:L) by 38.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,308 shares of the insurance provider’s stock after selling 810 shares during the period. Hanson & Doremus Investment Management’s holdings in Loews were worth $111,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Swedbank AB boosted its position in Loews by 1.2% during the fourth quarter. Swedbank AB now owns 384,346 shares of the insurance provider’s stock worth $32,550,000 after purchasing an additional 4,699 shares in the last quarter. Forsta AP Fonden lifted its position in shares of 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 in the last quarter. BSW Wealth Partners lifted its position in shares of Loews by 15.2% in the fourth quarter. BSW Wealth Partners now owns 3,095 shares of the insurance provider’s stock valued at $262,000 after acquiring an additional 409 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Loews by 5.9% in the fourth quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider’s stock valued at $285,000 after purchasing an additional 183 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Loews by 24.0% in the fourth quarter. Blue Trust Inc. now owns 2,927 shares of the insurance provider’s stock valued at $231,000 after purchasing an additional 567 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

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

Loews Trading Up 0.2 %

Shares of NYSE L opened at $86.20 on Friday. Loews Co. has a twelve month low of $71.45 and a twelve month high of $87.45. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $84.73 and a 200-day simple moving average of $81.44. The stock has a market capitalization of $18.77 billion, a PE ratio of 11.45 and a beta of 0.83.

Loews (NYSE:L) last issued its quarterly earnings data 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 business had revenue of $4.47 billion during the quarter.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. Loews’s payout ratio is presently 3.32%.

Insider Activity

In related news, Director Charles M. Diker sold 1,146 shares of Loews stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total value of $99,507.18. Following the completion of the transaction, the director now directly owns 19,906 shares in the company, valued at approximately $1,728,437.98. This trade represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew H. Tisch sold 75,000 shares of Loews stock in a transaction 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 completion of the transaction, the director now owns 12,089,677 shares of the company’s stock, valued at approximately $1,005,377,539.32. This trade represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,679 shares of company stock valued at $11,134,916. 18.70% of the stock is currently owned by corporate insiders.

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.