Plato Investment Management Ltd Buys New Stake in Loews Co. (NYSE:L)

Plato Investment Management Ltd acquired a new position in Loews Co. (NYSE:L) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 8,289 shares of the insurance provider’s stock, valued at approximately $649,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Fifth Third Bancorp raised its holdings in Loews by 4.9% during the fourth quarter. Fifth Third Bancorp now owns 8,338 shares of the insurance provider’s stock worth $580,000 after acquiring an additional 388 shares in the last quarter. Trust Point Inc. purchased a new stake in Loews in the fourth quarter worth approximately $507,000. SteelPeak Wealth LLC bought a new position in shares of Loews in the 4th quarter worth about $1,909,000. International Assets Investment Management LLC purchased a new stake in Loews during the 4th quarter valued at about $3,695,000. Finally, Arkadios Wealth Advisors bought a new stake in Loews in the 4th quarter worth about $325,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Stock Performance

Shares of NYSE:L traded down $0.78 on Friday, hitting $78.42. The company had a trading volume of 217,160 shares, compared to its average volume of 731,732. The stock has a market cap of $17.21 billion, a price-to-earnings ratio of 11.59 and a beta of 0.83. Loews Co. has a 1-year low of $61.29 and a 1-year high of $83.54. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average price of $76.25 and a 200 day moving average price of $75.52.

Loews (NYSE:L) last issued its earnings results on Monday, July 29th. The insurance provider reported $1.67 earnings per share (EPS) for the quarter. The business had revenue of $4.27 billion for the quarter. Loews had a net margin of 9.14% and a return on equity of 9.26%.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.25 annualized dividend and a yield of 0.32%. Loews’s dividend payout ratio is 3.71%.

Insider Transactions at Loews

In related news, insider Marc A. Alpert 2,687 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Marc A. Alpert 2,687 shares of the company’s stock in a transaction dated Tuesday, July 30th. The was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Mark S. Schwartz sold 2,628 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $80.88, for a total transaction of $212,552.64. Following the completion of the sale, the vice president now owns 14,933 shares of the company’s stock, valued at approximately $1,207,781.04. The disclosure for this sale can be found here. Insiders have sold a total of 152,628 shares of company stock worth $11,801,053 in the last ninety days. Insiders own 18.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on L shares. Jefferies Financial Group cut their price objective on shares of Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Wednesday. Royal Bank of Canada raised shares of Loews to a “moderate buy” rating in a report on Friday, July 26th.

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.