GAMMA Investing LLC Makes New $200,000 Investment in Loews Co. (NYSE:L)

GAMMA Investing LLC bought a new position in shares of Loews Co. (NYSE:L) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 2,748 shares of the insurance provider’s stock, valued at approximately $200,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC bought a new stake in shares of Loews in the third quarter valued at about $1,331,000. Oak Thistle LLC bought a new stake in shares of Loews in the third quarter valued at about $1,123,000. Czech National Bank lifted its holdings in shares of Loews by 44.3% in the third quarter. Czech National Bank now owns 32,320 shares of the insurance provider’s stock valued at $2,046,000 after purchasing an additional 9,927 shares in the last quarter. Ballentine Partners LLC bought a new stake in shares of Loews in the third quarter valued at about $208,000. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Loews by 8.0% in the third quarter. Commonwealth Equity Services LLC now owns 4,221 shares of the insurance provider’s stock valued at $267,000 after purchasing an additional 313 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors.

Loews Stock Performance

Shares of Loews stock opened at $76.41 on Friday. Loews Co. has a one year low of $55.31 and a one year high of $78.55. The firm has a market cap of $16.98 billion, a price-to-earnings ratio of 12.13 and a beta of 0.83. 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 stock’s 50-day moving average is $75.71 and its 200-day moving average is $71.18.

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

Loews Dividend Announcement

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

Insider Buying and Selling at Loews

In other Loews news, Director Andrew H. Tisch sold 125,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $73.04, for a total value of $9,130,000.00. Following the sale, the director now owns 945,886 shares in the company, valued at $69,087,513.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Jonathan M. Tisch sold 4,287 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $71.91, for a total transaction of $308,278.17. Following the transaction, the insider now owns 106,870 shares in the company, valued at $7,685,021.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Andrew H. Tisch sold 125,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $73.04, for a total value of $9,130,000.00. Following the transaction, the director now 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 137,563 shares of company stock worth $10,052,551 over the last 90 days. Company 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.