Loews Co. (NYSE:L) Shares Sold by Beacon Financial Group

Beacon Financial Group trimmed its holdings in Loews Co. (NYSE:L) by 6.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 19,689 shares of the insurance provider’s stock after selling 1,449 shares during the period. Beacon Financial Group’s holdings in Loews were worth $1,667,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in shares of Loews in the third quarter valued at approximately $40,000. Eastern Bank acquired a new stake in Loews during the 3rd quarter worth approximately $47,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Loews in the third quarter worth $49,000. Quest Partners LLC purchased a new stake in shares of Loews during the third quarter worth $129,000. Finally, Blue Trust Inc. increased its position in shares of Loews by 240.5% during the third quarter. Blue Trust Inc. now owns 2,360 shares of the insurance provider’s stock worth $176,000 after acquiring an additional 1,667 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Loews from a “buy” rating to a “hold” rating in a report on Tuesday.

Loews Trading Down 1.2 %

Shares of Loews stock opened at $84.88 on Wednesday. The company has a fifty day simple moving average of $84.68 and a 200-day simple moving average of $81.89. Loews Co. has a 12-month low of $72.50 and a 12-month high of $88.29. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. The stock has a market cap of $18.49 billion, a price-to-earnings ratio of 11.27 and a beta of 0.83.

Loews (NYSE:L) last announced its earnings results on Monday, February 10th. The insurance provider reported $0.86 EPS for the quarter. Loews had a net margin of 9.71% and a return on equity of 9.70%.

Insider Activity at Loews

In other Loews news, Director Charles M. Diker sold 1,146 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total transaction of $99,507.18. Following the transaction, the director now owns 19,906 shares in the company, valued at approximately $1,728,437.98. The trade was a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Andrew H. Tisch sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $83.26, for a total value of $4,163,000.00. Following the completion of the sale, the director now directly owns 11,939,677 shares of the company’s stock, valued at $994,097,507.02. This represents a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 62,370 shares of company stock worth $5,218,627 in the last quarter. Company insiders own 18.70% of the company’s stock.

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.