Frank Rimerman Advisors LLC Takes $242,000 Position in Loews Co. (NYSE:L)

Frank Rimerman Advisors LLC bought a new position in shares of Loews Co. (NYSE:L) during the 4th quarter, HoldingsChannel.com reports. The fund bought 2,856 shares of the insurance provider’s stock, valued at approximately $242,000.

Several other large investors have also recently added to or reduced their stakes in L. KBC Group NV increased its stake in Loews by 1.6% during the 3rd quarter. KBC Group NV now owns 62,785 shares of the insurance provider’s stock worth $4,963,000 after buying an additional 999 shares during the period. CIBC Asset Management Inc increased its stake in Loews by 1.7% during the 3rd quarter. CIBC Asset Management Inc now owns 64,856 shares of the insurance provider’s stock worth $5,120,000 after buying an additional 1,105 shares during the period. Empowered Funds LLC increased its stake in Loews by 7.2% during the 3rd quarter. Empowered Funds LLC now owns 2,990 shares of the insurance provider’s stock worth $236,000 after buying an additional 200 shares during the period. Natixis Advisors LLC increased its stake in Loews by 5.6% during the 3rd quarter. Natixis Advisors LLC now owns 68,620 shares of the insurance provider’s stock worth $5,424,000 after buying an additional 3,612 shares during the period. Finally, Quest Partners LLC purchased a new stake in Loews during the 3rd quarter worth approximately $129,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Loews from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

Loews Trading Up 1.2 %

NYSE L opened at $87.48 on Tuesday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a 52 week low of $72.91 and a 52 week high of $88.29. The stock has a market capitalization of $18.62 billion, a PE ratio of 13.67 and a beta of 0.80. The firm has a 50 day moving average of $84.85 and a two-hundred day moving average of $82.91.

Loews (NYSE:L) last posted its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 EPS for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. The ex-dividend date was Wednesday, February 26th. Loews’s payout ratio is 3.91%.

Insider Activity

In other news, Director Jonathan M. Tisch sold 50,000 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total value of $4,254,000.00. Following the completion of the transaction, the director now owns 7,105,529 shares in the company, valued at approximately $604,538,407.32. This represents a 0.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Andrew H. Tisch sold 7,533 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total transaction of $635,408.55. Following the sale, the director now owns 1,568,191 shares of the company’s stock, valued at approximately $132,276,910.85. This represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 158,860 shares of company stock worth $13,486,463. Corporate insiders own 18.70% of the company’s stock.

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.