Boothbay Fund Management LLC Takes Position in Loews Co. (NYSE:L)

Boothbay Fund Management LLC acquired a new stake in shares of Loews Co. (NYSE:L – Get Rating) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,761 shares of the insurance provider’s stock, valued at approximately $287,000.

Other hedge funds have also made changes to their positions in the company. SeaCrest Wealth Management LLC acquired a new stake in shares of Loews during the 2nd quarter valued at $26,000. Eagle Bay Advisors LLC acquired a new position in Loews during the 2nd quarter worth $36,000. EverSource Wealth Advisors LLC lifted its position in Loews by 97.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 845 shares of the insurance provider’s stock worth $42,000 after acquiring an additional 418 shares during the last quarter. Wipfli Financial Advisors LLC bought a new position in shares of Loews during the 3rd quarter worth about $49,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of Loews during the 3rd quarter worth about $56,000. Institutional investors and hedge funds own 64.00% of the company’s stock.

Loews Trading Up 0.5 %

L stock opened at $61.76 on Friday. The business has a fifty day moving average price of $60.33 and a 200 day moving average price of $57.12. Loews Co. has a fifty-two week low of $49.36 and a fifty-two week high of $68.20. The stock has a market capitalization of $14.51 billion, a price-to-earnings ratio of 14.85 and a beta of 0.83. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.35 and a quick ratio of 0.35.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 7th. Investors of record on Wednesday, February 22nd will be issued a dividend of $0.0625 per share. The ex-dividend date is Tuesday, February 21st. This represents a $0.25 dividend on an annualized basis and a yield of 0.40%. Loews’s dividend payout ratio is 6.01%.

Wall Street Analyst Weigh In

Separately, TheStreet upgraded shares of Loews from a “c+” rating to a “b-” rating in a report on Wednesday, November 23rd.

Insider Activity at Loews

In other Loews news, SVP Richard Waldo Scott sold 12,506 shares of the stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $62.51, for a total value of $781,750.06. Following the transaction, the senior vice president now directly owns 42,920 shares in the company, valued at approximately $2,682,929.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Loews news, SVP Richard Waldo Scott sold 12,506 shares of the stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $62.51, for a total value of $781,750.06. Following the transaction, the senior vice president now directly owns 42,920 shares in the company, valued at approximately $2,682,929.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan M. Tisch sold 4,287 shares of the stock in a transaction on Wednesday, February 8th. The shares were sold at an average price of $62.35, for a total value of $267,294.45. The disclosure for this sale can be found here. Insiders sold 35,676 shares of company stock valued at $2,166,036 in the last three months. Corporate insiders own 17.50% of the company’s stock.

Loews Profile

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Loews Corp. is a holding company, which engages in the business of commercial property and casualty insurance, transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. It operates through the following segments: CNA Financial Corporation, Boardwalk Pipeline Partners, LP and Loews Hotels Holding Corporation, and Corporate.