Holderness Investments Co. Lowers Holdings in Loews Co. (NYSE:L)

Holderness Investments Co. lowered its holdings in shares of Loews Co. (NYSE:L) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,936 shares of the insurance provider’s stock after selling 184 shares during the quarter. Holderness Investments Co.’s holdings in Loews were worth $249,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Halbert Hargrove Global Advisors LLC bought a new position in shares of Loews during the 4th quarter valued at about $26,000. Brooklyn Investment Group bought a new position in Loews during the third quarter valued at approximately $40,000. Wilmington Savings Fund Society FSB bought a new position in Loews during the third quarter valued at approximately $49,000. Human Investing LLC purchased a new position in Loews during the 4th quarter valued at approximately $51,000. Finally, Intact Investment Management Inc. bought a new stake in Loews in the 4th quarter worth approximately $68,000. Institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling

In related news, Director Andrew H. Tisch sold 7,533 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $84.35, for a total value of $635,408.55. Following the sale, the director now directly owns 1,568,191 shares of the company’s stock, valued at $132,276,910.85. This represents a 0.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jonathan M. Tisch sold 47,636 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $84.88, for a total value of $4,043,343.68. Following the transaction, the director now owns 6,705,529 shares of the company’s stock, valued at $569,165,301.52. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 158,860 shares of company stock worth $13,486,463 over the last three months. 18.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Loews Stock Performance

Loews stock opened at $87.22 on Friday. The company’s 50-day moving average price is $85.23 and its 200-day moving average price is $83.05. 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 company has a market cap of $18.57 billion, a PE ratio of 13.63 and a beta of 0.80. Loews Co. has a twelve month low of $72.91 and a twelve month high of $88.66.

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

Loews Dividend Announcement

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

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.