Horizon Advisory Services Inc. Takes $325,000 Position in Loews Co. (NYSE:L)

Horizon Advisory Services Inc. acquired a new stake in Loews Co. (NYSE:L) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,836 shares of the insurance provider’s stock, valued at approximately $325,000. Loews makes up about 0.2% of Horizon Advisory Services Inc.’s portfolio, making the stock its 23rd largest holding.

Several other hedge funds have also modified their holdings of the stock. State Street Corp lifted its holdings in Loews by 1.0% during the 3rd quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock worth $638,506,000 after buying an additional 82,581 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Loews by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider’s stock worth $336,005,000 after buying an additional 53,428 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Loews by 0.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider’s stock worth $268,640,000 after buying an additional 8,750 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Loews by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock worth $127,409,000 after buying an additional 8,615 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Loews by 6.4% during 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. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com downgraded Loews from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th.

Insider Activity

In related news, Director Charles M. Diker sold 1,146 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $86.83, for a total value of $99,507.18. Following the transaction, the director now owns 19,906 shares in the company, valued at $1,728,437.98. The trade was a 5.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jonathan M. Tisch sold 3,691 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. In the last three months, insiders sold 12,370 shares of company stock valued at $1,055,627. Insiders own 18.70% of the company’s stock.

Loews Stock Up 1.9 %

Loews stock opened at $84.31 on Tuesday. Loews Co. has a fifty-two week low of $72.91 and a fifty-two week high of $88.29. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market capitalization of $17.95 billion, a P/E ratio of 13.17 and a beta of 0.83. The stock has a 50-day simple moving average of $84.37 and a 200-day simple moving average of $82.25.

Loews (NYSE:L) last posted its earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is Wednesday, February 26th. Loews’s payout ratio is currently 3.91%.

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.