Cable Hill Partners LLC Cuts Stock Position in Loews Co. (NYSE:L)

Cable Hill Partners LLC lessened its holdings in Loews Co. (NYSE:L) by 6.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,014 shares of the insurance provider’s stock after selling 193 shares during the period. Cable Hill Partners LLC’s holdings in Loews were worth $238,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Loews by 5.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 174,867 shares of the insurance provider’s stock valued at $13,690,000 after purchasing an additional 8,527 shares in the last quarter. Bessemer Group Inc. grew its holdings in Loews by 453.9% during the 1st quarter. Bessemer Group Inc. now owns 18,429 shares of the insurance provider’s stock valued at $1,443,000 after purchasing an additional 15,102 shares in the last quarter. Swedbank AB grew its holdings in Loews by 15.6% during the 2nd quarter. Swedbank AB now owns 349,047 shares of the insurance provider’s stock valued at $26,088,000 after purchasing an additional 47,013 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Loews by 25.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 218,841 shares of the insurance provider’s stock valued at $17,133,000 after purchasing an additional 44,426 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Loews by 8.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 122,208 shares of the insurance provider’s stock valued at $9,134,000 after purchasing an additional 9,296 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Insider Activity at Loews

In related news, insider Jonathan M. Tisch sold 62,500 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $80.84, for a total value of $5,052,500.00. Following the completion of the sale, the insider now owns 6,781,634 shares in the company, valued at approximately $548,227,292.56. This represents a 0.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew H. Tisch sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $83.16, for a total transaction of $6,237,000.00. Following the completion of the sale, the director now owns 12,089,677 shares of the company’s stock, valued at approximately $1,005,377,539.32. This trade represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 163,587 shares of company stock valued at $13,423,460 over the last ninety days. Insiders own 18.70% of the company’s stock.

Loews Trading Down 0.5 %

Loews stock opened at $82.80 on Friday. The firm has a 50 day simple moving average of $79.71 and a 200-day simple moving average of $78.01. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. The stock has a market capitalization of $18.03 billion, a PE ratio of 11.00 and a beta of 0.82. Loews Co. has a 12-month low of $66.16 and a 12-month high of $84.56.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 27th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Wednesday, November 27th. Loews’s dividend payout ratio is presently 3.32%.

Analyst Ratings Changes

Several research firms have recently weighed in on L. Jefferies Financial Group dropped their target price on shares of Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Royal Bank of Canada upgraded shares of Loews to a “moderate buy” rating in a research note on Friday, July 26th. Finally, StockNews.com upgraded shares of Loews from a “buy” rating to a “strong-buy” rating in a research note on Tuesday.

About Loews

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.