Adage Capital Partners GP L.L.C. Sells 2,800 Shares of Loews Co. (NYSE:L)

Adage Capital Partners GP L.L.C. decreased its holdings in shares of Loews Co. (NYSE:L) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 168,900 shares of the insurance provider’s stock after selling 2,800 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in Loews were worth $14,304,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Barclays PLC boosted its position in Loews by 13.1% during the third quarter. Barclays PLC now owns 752,380 shares of the insurance provider’s stock worth $59,473,000 after purchasing an additional 87,259 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Loews in the third quarter worth $49,000. Synovus Financial Corp bought a new stake in shares of Loews during the 3rd quarter worth $205,000. Principal Financial Group Inc. grew its stake in Loews by 3.0% in the 3rd quarter. Principal Financial Group Inc. now owns 248,665 shares of the insurance provider’s stock valued at $19,657,000 after buying an additional 7,149 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Loews by 23.5% in the 4th quarter. GAMMA Investing LLC now owns 6,580 shares of the insurance provider’s stock worth $557,000 after acquiring an additional 1,253 shares during the period. Institutional investors own 58.33% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jonathan M. Tisch sold 47,636 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $84.88, for a total value of $4,043,343.68. Following the sale, the director now directly owns 6,705,529 shares in the company, valued at approximately $569,165,301.52. This represents a 0.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 value of $320,710.99. The disclosure for this sale can be found here. In the last quarter, insiders sold 151,327 shares of company stock worth $12,851,055. 18.70% of the stock is currently owned by company insiders.

Loews Stock Performance

Shares of NYSE L opened at $85.30 on Monday. Loews Co. has a 12 month low of $73.15 and a 12 month high of $92.42. The company has a market cap of $17.94 billion, a P/E ratio of 13.33 and a beta of 0.60. The business’s 50 day moving average is $86.11 and its two-hundred day moving average is $84.55. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50.

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

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a dividend of $0.0625 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 annualized dividend and a yield of 0.29%. Loews’s dividend payout ratio is 3.91%.

Analyst Upgrades and Downgrades

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

Loews Company 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.