Empowered Funds LLC Has $236,000 Stock Position in Loews Co. (NYSE:L)

Empowered Funds LLC boosted its stake in shares of Loews Co. (NYSE:L) by 7.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,990 shares of the insurance provider’s stock after buying an additional 200 shares during the period. Empowered Funds LLC’s holdings in Loews were worth $236,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. CIBC Asset Management Inc boosted its position in Loews by 1.7% during the 3rd quarter. CIBC Asset Management Inc now owns 64,856 shares of the insurance provider’s stock worth $5,120,000 after acquiring an additional 1,105 shares during the period. KBC Group NV lifted its position in shares of Loews by 1.6% in the third quarter. KBC Group NV now owns 62,785 shares of the insurance provider’s stock worth $4,963,000 after purchasing an additional 999 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its position in shares of Loews by 215.6% in the third quarter. Ashton Thomas Private Wealth LLC now owns 7,340 shares of the insurance provider’s stock worth $580,000 after purchasing an additional 5,014 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Loews by 1.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 509,349 shares of the insurance provider’s stock worth $40,264,000 after purchasing an additional 5,655 shares during the period. Finally, Colonial River Investments LLC purchased a new position in Loews during the third quarter valued at approximately $204,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Price Performance

NYSE L opened at $86.61 on Wednesday. The stock has a 50-day simple moving average of $80.73 and a 200 day simple moving average of $78.52. Loews Co. has a twelve month low of $67.20 and a twelve month high of $86.90. The stock has a market capitalization of $18.86 billion, a PE ratio of 11.50 and a beta of 0.82. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th will be given a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.25 annualized dividend and a yield of 0.29%. Loews’s dividend payout ratio is 3.32%.

Insider Transactions at Loews

In related news, insider Jonathan M. Tisch sold 25,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.82, for a total value of $2,045,500.00. Following the completion of the transaction, the insider now directly owns 461,395 shares of the company’s stock, valued at $37,751,338.90. This trade represents a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew H. Tisch sold 75,000 shares of Loews stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $83.16, for a total transaction of $6,237,000.00. Following the sale, the director now owns 12,089,677 shares in the company, valued at $1,005,377,539.32. This represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 213,587 shares of company stock worth $17,586,460. 18.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

L has been the subject of a number of recent research reports. StockNews.com downgraded Loews from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Jefferies Financial Group cut their price objective on shares of Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st.

Loews 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.