Lafayette Investments Inc. Sells 425 Shares of Loews Co. (NYSE:L)

Lafayette Investments Inc. trimmed its holdings in Loews Co. (NYSE:L) by 0.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 77,505 shares of the insurance provider’s stock after selling 425 shares during the period. Loews comprises about 1.3% of Lafayette Investments Inc.’s portfolio, making the stock its 24th largest holding. Lafayette Investments Inc.’s holdings in Loews were worth $5,394,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of L. NBC Securities Inc. bought a new stake in Loews in the 3rd quarter worth about $29,000. Operose Advisors LLC purchased a new position in Loews in the third quarter worth about $30,000. Desjardins Global Asset Management Inc. boosted its position in Loews by 225.2% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 340 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in Loews in the second quarter worth about $36,000. Finally, Rockefeller Capital Management L.P. boosted its position in Loews by 40.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 705 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 202 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors.

Loews Stock Performance

NYSE:L traded up $1.13 on Friday, hitting $74.97. The stock had a trading volume of 127,542 shares, compared to its average volume of 754,038. The stock has a market cap of $16.66 billion, a price-to-earnings ratio of 11.72 and a beta of 0.83. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.48. The business’s 50-day simple moving average is $75.42 and its two-hundred day simple moving average is $70.70. Loews Co. has a 52-week low of $55.31 and a 52-week high of $78.55.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, February 5th. The insurance provider reported $1.99 earnings per share for the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%. The firm had revenue of $4.26 billion for the quarter.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Wednesday, February 21st were given a dividend of $0.0625 per share. The ex-dividend date was Tuesday, February 20th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.33%. Loews’s payout ratio is currently 3.97%.

Insider Activity

In related news, SVP Richard Waldo Scott sold 7,325 shares of Loews stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $74.12, for a total transaction of $542,929.00. Following the sale, the senior vice president now owns 51,965 shares of the company’s stock, valued at approximately $3,851,645.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Richard Waldo Scott sold 7,325 shares of Loews stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $74.12, for a total transaction of $542,929.00. Following the sale, the senior vice president now owns 51,965 shares of the company’s stock, valued at approximately $3,851,645.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew H. Tisch sold 125,000 shares of Loews stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total value of $9,130,000.00. Following the sale, the director now directly owns 945,886 shares in the company, valued at approximately $69,087,513.44. The disclosure for this sale can be found here. Insiders have sold a total of 137,563 shares of company stock valued at $10,052,551 in the last ninety days. Corporate insiders own 18.70% of the company’s stock.

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.