International Assets Investment Management LLC Invests $520,000 in Loews Co. (NYSE:L)

Posted by Defense World Staff on Apr 14th, 2023

International Assets Investment Management LLC acquired a new position in shares of Loews Co. (NYSE:L – Get Rating) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,965 shares of the insurance provider’s stock, valued at approximately $520,000.

Several other large investors also recently made changes to their positions in L. Eagle Bay Advisors LLC bought a new position in Loews in the second quarter valued at $36,000. CI Investments Inc. grew its position in Loews by 61.8% in the third quarter. CI Investments Inc. now owns 626 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 239 shares in the last quarter. Ronald Blue Trust Inc. grew its position in Loews by 165.1% in the fourth quarter. Ronald Blue Trust Inc. now owns 835 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 520 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Loews by 97.9% in the third quarter. EverSource Wealth Advisors LLC now owns 845 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 418 shares in the last quarter. Finally, Wipfli Financial Advisors LLC bought a new position in Loews in the third quarter valued at $49,000. Institutional investors own 64.00% of the company’s stock.

Insider Buying and Selling at Loews

In other news, insider Jonathan M. Tisch sold 4,287 shares of the firm’s stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $62.35, for a total transaction of $267,294.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jonathan M. Tisch sold 4,287 shares of the firm’s stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $62.35, for a total transaction of $267,294.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Richard Waldo Scott sold 12,506 shares of Loews stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $62.51, for a total transaction of $781,750.06. Following the completion of the sale, the senior vice president now owns 42,920 shares of the company’s stock, valued at approximately $2,682,929.20. The disclosure for this sale can be found here. Insiders sold a total of 21,209 shares of company stock worth $1,321,163 over the last quarter. 17.50% of the stock is currently owned by insiders.

Loews Stock Performance

Shares of L stock opened at $56.71 on Friday. The stock has a market cap of $13.09 billion, a P/E ratio of 13.63 and a beta of 0.82. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.35 and a quick ratio of 0.35. The company has a fifty day moving average price of $58.59 and a two-hundred day moving average price of $57.23. Loews Co. has a one year low of $49.36 and a one year high of $68.20.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 7th. Shareholders of record on Wednesday, February 22nd were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Tuesday, February 21st. Loews’s dividend payout ratio is currently 6.01%.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Loews in a research report on Thursday, March 16th. They issued a “buy” rating for the company.

Loews Company Profile

(Get Rating)

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.