Rafferty Asset Management LLC Purchases 2,829 Shares of Loews Co. (NYSE:L)

Rafferty Asset Management LLC increased its position in shares of Loews Co. (NYSE:LFree Report) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,891 shares of the insurance provider’s stock after acquiring an additional 2,829 shares during the period. Rafferty Asset Management LLC’s holdings in Loews were worth $4,516,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of L. NBC Securities Inc. bought a new position in shares of Loews in the 3rd quarter worth $29,000. J.P. Morgan Private Wealth Advisors LLC increased its holdings in shares of Loews by 1.7% in the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 23,330 shares of the insurance provider’s stock worth $1,477,000 after buying an additional 397 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Loews by 1.3% in the 3rd quarter. Amalgamated Bank now owns 50,547 shares of the insurance provider’s stock worth $3,200,000 after buying an additional 629 shares during the last quarter. Atria Wealth Solutions Inc. increased its holdings in shares of Loews by 0.9% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 32,736 shares of the insurance provider’s stock worth $2,073,000 after buying an additional 295 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Loews by 14.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 6,711 shares of the insurance provider’s stock worth $425,000 after buying an additional 854 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Loews Price Performance

Shares of NYSE:L opened at $75.25 on Friday. The company’s fifty day moving average price is $75.87 and its 200-day moving average price is $73.62. The firm has a market capitalization of $16.66 billion, a price-to-earnings ratio of 11.16 and a beta of 0.85. Loews Co. has a one year low of $57.47 and a one year high of $78.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34.

Loews (NYSE:LGet Free Report) last issued its quarterly earnings results on Monday, May 6th. The insurance provider reported $2.05 EPS for the quarter. Loews had a net margin of 9.27% and a return on equity of 9.45%. The firm had revenue of $4.23 billion for the quarter.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th will be issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.33%. The ex-dividend date is Wednesday, May 29th. Loews’s dividend payout ratio is currently 3.71%.

Insider Activity at Loews

In related news, insider Jonathan M. Tisch sold 50,000 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $77.39, for a total transaction of $3,869,500.00. Following the transaction, the insider now owns 607,799 shares of the company’s stock, valued at approximately $47,037,564.61. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 150,000 shares of company stock valued at $11,588,500. Insiders own 18.70% of the company’s stock.

Loews Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Loews (NYSE:L)

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