US Asset Management LLC Makes New $523,000 Investment in Loews Co. (NYSE:L)

US Asset Management LLC acquired a new stake in shares of Loews Co. (NYSE:L) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,518 shares of the insurance provider’s stock, valued at approximately $523,000.

Other hedge funds have also recently made changes to their positions in the company. SteelPeak Wealth LLC bought a new stake in Loews during the fourth quarter worth $1,909,000. SG Americas Securities LLC boosted its holdings in shares of Loews by 112.1% in the 4th quarter. SG Americas Securities LLC now owns 49,417 shares of the insurance provider’s stock worth $3,439,000 after buying an additional 26,120 shares during the last quarter. Pacer Advisors Inc. grew its position in Loews by 405.5% during the fourth quarter. Pacer Advisors Inc. now owns 62,406 shares of the insurance provider’s stock valued at $4,343,000 after buying an additional 50,061 shares during the period. Metis Global Partners LLC increased its holdings in Loews by 16.4% during the third quarter. Metis Global Partners LLC now owns 6,885 shares of the insurance provider’s stock worth $436,000 after buying an additional 970 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new position in Loews in the third quarter valued at approximately $548,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Price Performance

Loews stock traded up $0.21 during midday trading on Friday, hitting $77.91. 186,173 shares of the company’s stock were exchanged, compared to its average volume of 741,102. The stock has a 50-day moving average price of $76.11 and a two-hundred day moving average price of $72.05. Loews Co. has a 52-week low of $55.94 and a 52-week high of $78.55. The company has a market cap of $17.31 billion, a P/E ratio of 12.34 and a beta of 0.82. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.32 and a current ratio of 0.32.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, May 6th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter. The company had revenue of $4.23 billion during the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%.

Insider Transactions at Loews

In related news, Director Paul J. Fribourg sold 951 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $75.02, for a total transaction of $71,344.02. Following the transaction, the director now directly owns 21,200 shares in the company, valued at approximately $1,590,424. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Loews news, Director Andrew H. Tisch sold 125,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $73.04, for a total value of $9,130,000.00. Following the completion of the sale, the director now owns 945,886 shares in the company, valued at approximately $69,087,513.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Paul J. Fribourg sold 951 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $75.02, for a total value of $71,344.02. Following the transaction, the director now directly owns 21,200 shares in the company, valued at $1,590,424. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,276 shares of company stock worth $9,744,273. 18.70% of the stock is currently owned by insiders.

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.