Sequoia Financial Advisors LLC Increases Stock Position in Loews Co. (NYSE:L)

Sequoia Financial Advisors LLC lifted its holdings in shares of Loews Co. (NYSE:L) by 28.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,432 shares of the insurance provider’s stock after purchasing an additional 969 shares during the period. Sequoia Financial Advisors LLC’s holdings in Loews were worth $375,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC purchased a new position in Loews in the 4th quarter valued at about $26,000. Brooklyn Investment Group acquired a new position in shares of Loews in the third quarter valued at approximately $40,000. Human Investing LLC purchased a new position in shares of Loews during the fourth quarter valued at approximately $51,000. Wilmington Savings Fund Society FSB acquired a new stake in Loews during the third quarter worth approximately $49,000. Finally, Assetmark Inc. grew its stake in Loews by 117.2% in the 4th quarter. Assetmark Inc. now owns 832 shares of the insurance provider’s stock worth $70,000 after acquiring an additional 449 shares during the period. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Trading Down 0.7 %

Shares of L stock opened at $86.83 on Wednesday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. The stock has a market cap of $18.48 billion, a price-to-earnings ratio of 13.57 and a beta of 0.80. The firm’s 50 day moving average price is $84.93 and its two-hundred day moving average price is $82.95. Loews Co. has a fifty-two week low of $72.91 and a fifty-two week high of $88.29.

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

Loews Announces Dividend

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

Insider Activity

In other news, Director Andrew H. Tisch sold 7,533 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total value of $635,408.55. Following the completion of the sale, the director now directly owns 1,568,191 shares in the company, valued at approximately $132,276,910.85. The trade was a 0.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan M. Tisch sold 3,691 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. In the last three months, insiders sold 158,860 shares of company stock worth $13,486,463. 18.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, StockNews.com cut Loews from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th.

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.