Summit Trail Advisors LLC Acquires New Stake in Loews Co. (NYSE:L)

Summit Trail Advisors LLC acquired a new position in shares of Loews Co. (NYSE:L) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,877 shares of the insurance provider’s stock, valued at approximately $339,000.

Other hedge funds also recently made changes to their positions in the company. NBC Securities Inc. purchased a new position in shares of Loews in the 3rd quarter valued at about $29,000. Operose Advisors LLC acquired a new stake in shares of Loews during the 3rd quarter valued at approximately $30,000. Desjardins Global Asset Management Inc. raised its holdings in Loews by 225.2% during 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. Lindbrook Capital LLC grew its holdings in Loews by 41.4% in the fourth quarter. Lindbrook Capital LLC now owns 611 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 179 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of Loews during the 4th quarter worth $195,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Activity at Loews

In related news, SVP Richard Waldo Scott sold 7,325 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $74.12, for a total value of $542,929.00. Following the completion of the sale, the senior vice president now owns 51,965 shares of the company’s stock, valued at $3,851,645.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Loews news, Director Paul J. Fribourg sold 951 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $75.02, for a total value of $71,344.02. Following the completion of the sale, the director now directly owns 21,200 shares of the company’s stock, valued at approximately $1,590,424. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the transaction, the senior vice president now directly owns 51,965 shares in the company, valued at approximately $3,851,645.80. The disclosure for this sale can be found here. Insiders sold 137,563 shares of company stock worth $10,052,551 in the last 90 days. 18.70% of the stock is currently owned by company insiders.

Loews Stock Performance

NYSE:L opened at $77.88 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a 50 day simple moving average of $76.01 and a 200-day simple moving average of $71.97. Loews Co. has a 1-year low of $55.94 and a 1-year high of $78.55. The firm has a market cap of $17.31 billion, a PE ratio of 12.35 and a beta of 0.82.

Loews (NYSE:L) last released its earnings results on Monday, May 6th. The insurance provider reported $2.05 earnings per share for the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%. The firm had revenue of $4.23 billion during the quarter.

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.