Hi Line Capital Management LLC Buys 620 Shares of Loews Corporation (NYSE:L)

Hi Line Capital Management LLC boosted its stake in shares of Loews Corporation (NYSE:L) by 2.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,498 shares of the insurance provider’s stock after acquiring an additional 620 shares during the period. Loews accounts for 1.0% of Hi Line Capital Management LLC’s portfolio, making the stock its 29th largest holding. Hi Line Capital Management LLC’s holdings in Loews were worth $2,711,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Loews during the 4th quarter worth approximately $623,493,000. GAMMA Investing LLC raised its stake in Loews by 10,114.9% during the first quarter. GAMMA Investing LLC now owns 672,138 shares of the insurance provider’s stock valued at $61,776,000 after purchasing an additional 665,558 shares in the last quarter. Boston Partners raised its stake in Loews by 16.9% during the fourth quarter. Boston Partners now owns 1,499,417 shares of the insurance provider’s stock valued at $126,983,000 after purchasing an additional 217,115 shares in the last quarter. Geode Capital Management LLC lifted its position in Loews by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider’s stock valued at $378,087,000 after purchasing an additional 210,594 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Loews by 17.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,423,409 shares of the insurance provider’s stock worth $120,549,000 after buying an additional 207,568 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors.

Insider Activity at Loews

In other Loews news, SVP Richard Waldo Scott sold 9,019 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $87.92, for a total value of $792,950.48. Following the completion of the sale, the senior vice president now directly owns 33,901 shares of the company’s stock, valued at $2,980,575.92. The trade was a 21.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 18.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Loews from a “hold” rating to a “buy” rating in a report on Tuesday, May 6th.

Loews Stock Performance

NYSE:L opened at $90.67 on Tuesday. The firm has a market capitalization of $19.01 billion, a PE ratio of 14.89 and a beta of 0.71. The stock’s fifty day moving average is $87.77 and its 200 day moving average is $86.13. Loews Corporation has a fifty-two week low of $73.15 and a fifty-two week high of $92.42. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.33 and a current ratio of 0.33.

Loews (NYSE:L) last released its earnings results on Monday, May 5th. The insurance provider reported $1.74 earnings per share (EPS) for the quarter. The firm had revenue of $4.49 billion during the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were issued a $0.0625 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $0.25 annualized dividend and a dividend yield of 0.28%. 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.