NEOS Investment Management LLC Acquires 1,238 Shares of Loews Co. (NYSE:L)

NEOS Investment Management LLC grew its holdings in shares of Loews Co. (NYSE:L) by 25.6% during the fourth quarter, Holdings Channel reports. The firm owned 6,076 shares of the insurance provider’s stock after purchasing an additional 1,238 shares during the period. NEOS Investment Management LLC’s holdings in Loews were worth $515,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Halbert Hargrove Global Advisors LLC acquired a new position in Loews during the fourth quarter worth $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Loews during the 3rd quarter worth about $49,000. Human Investing LLC acquired a new position in shares of Loews during the 4th quarter valued at about $51,000. Graney & King LLC bought a new position in shares of Loews in the 4th quarter valued at approximately $56,000. Finally, Intact Investment Management Inc. acquired a new stake in Loews in the 4th quarter worth approximately $68,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at Loews

In other Loews news, Director Andrew H. Tisch sold 7,533 shares of Loews stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $84.35, for a total transaction of $635,408.55. Following the sale, the director now owns 1,568,191 shares in the company, valued at $132,276,910.85. The trade was a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan M. Tisch sold 3,691 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total transaction of $320,710.99. The disclosure for this sale can be found here. Insiders sold a total of 158,860 shares of company stock worth $13,486,463 in the last ninety days. 18.70% of the stock is currently owned by insiders.

Loews Stock Down 0.8 %

L stock opened at $90.66 on Monday. The stock has a market capitalization of $19.30 billion, a price-to-earnings ratio of 14.17 and a beta of 0.80. The company has a 50-day moving average of $85.78 and a two-hundred day moving average of $83.44. Loews Co. has a 52-week low of $72.91 and a 52-week high of $92.13. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34.

Loews (NYSE:L) last announced 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 business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews’s dividend payout ratio (DPR) is currently 3.91%.

Loews Profile

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.