Edgestream Partners L.P. Purchases Shares of 55,040 Loews Co. (NYSE:L)

Edgestream Partners L.P. bought a new position in shares of Loews Co. (NYSE:L) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 55,040 shares of the insurance provider’s stock, valued at approximately $4,309,000.

Several other institutional investors and hedge funds have also recently modified their holdings of L. Wellington Management Group LLP raised its stake in shares of Loews by 0.7% during the fourth quarter. Wellington Management Group LLP now owns 20,526 shares of the insurance provider’s stock valued at $1,428,000 after acquiring an additional 145 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Loews by 3.4% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,003 shares of the insurance provider’s stock valued at $392,000 after purchasing an additional 164 shares during the last quarter. Lindbrook Capital LLC lifted its stake in shares of Loews by 41.4% during the fourth quarter. Lindbrook Capital LLC now owns 611 shares of the insurance provider’s stock worth $43,000 after buying an additional 179 shares during the period. Chase Investment Counsel Corp grew its stake in Loews by 0.5% during the 4th quarter. Chase Investment Counsel Corp now owns 36,553 shares of the insurance provider’s stock valued at $2,543,000 after purchasing an additional 190 shares during the last quarter. Finally, Empirical Finance LLC increased its holdings in Loews by 3.2% in the 1st quarter. Empirical Finance LLC now owns 7,222 shares of the insurance provider’s stock worth $565,000 after buying an additional 222 shares during the period. Institutional investors own 58.33% of the company’s stock.

Loews Price Performance

Shares of Loews stock traded up $0.01 on Monday, reaching $78.07. The company’s stock had a trading volume of 327,119 shares, compared to its average volume of 741,504. The company has a market capitalization of $17.29 billion, a P/E ratio of 11.58 and a beta of 0.83. Loews Co. has a 52-week low of $60.98 and a 52-week high of $81.11. The stock has a 50-day moving average price of $75.79 and a 200-day moving average price of $75.08. 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 (NYSE:L) last posted its quarterly earnings results on Monday, May 6th. The insurance provider reported $2.05 earnings per share for the quarter. The business had revenue of $4.23 billion during the quarter. Loews had a net margin of 9.27% and a return on equity of 9.45%.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th were given 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 dividend yield of 0.32%. Loews’s dividend payout ratio (DPR) is currently 3.71%.

Insider Buying and Selling at Loews

In related news, insider Jonathan M. Tisch sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $77.24, for a total transaction of $3,862,000.00. Following the completion of the sale, the insider now owns 507,799 shares in the company, valued at $39,222,394.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 150,000 shares of company stock worth $11,588,500 over 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.