McIlrath & Eck LLC Acquires 901 Shares of Loews Co. (NYSE:L)

McIlrath & Eck LLC boosted its stake in shares of Loews Co. (NYSE:L) by 1,477.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 962 shares of the insurance provider’s stock after buying an additional 901 shares during the period. McIlrath & Eck LLC’s holdings in Loews were worth $81,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank of New York Mellon Corp grew its position in shares of Loews by 6.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider’s stock worth $109,067,000 after buying an additional 77,386 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in Loews in the fourth quarter valued at approximately $440,000. Y Intercept Hong Kong Ltd purchased a new position in Loews in the fourth quarter worth $425,000. Steward Partners Investment Advisory LLC increased its position in shares of Loews by 13.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,433 shares of the insurance provider’s stock worth $206,000 after purchasing an additional 288 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Loews by 14.8% during the fourth quarter. Prudential Financial Inc. now owns 162,256 shares of the insurance provider’s stock worth $13,741,000 after purchasing an additional 20,874 shares in the last quarter. Institutional investors own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Loews from a “hold” rating to a “buy” rating in a research note on Tuesday, May 6th.

Insider Buying and Selling

In related news, Director Jonathan M. Tisch sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $84.66, for a total value of $4,233,000.00. Following the transaction, the director now owns 6,755,529 shares in the company, valued at approximately $571,923,085.14. This represents a 0.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Richard Waldo Scott sold 9,019 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $87.92, for a total transaction of $792,950.48. Following the transaction, the senior vice president now directly owns 33,901 shares of the company’s stock, valued at $2,980,575.92. This represents a 21.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 156,655 shares of company stock worth $13,323,294 in the last 90 days. Insiders own 18.70% of the company’s stock.

Loews Stock Performance

L opened at $87.67 on Thursday. The company has a market cap of $18.38 billion, a P/E ratio of 13.70 and a beta of 0.70. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. The firm’s 50-day moving average price is $87.17 and its 200-day moving average price is $85.40. Loews Co. has a 52-week low of $73.15 and a 52-week high of $92.42.

Loews (NYSE:L) last released its earnings results on Monday, May 5th. The insurance provider reported $1.74 earnings per share for the quarter. The company had revenue of $4.49 billion for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be given a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend is Wednesday, May 28th. Loews’s payout ratio is 4.11%.

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.