Brooklyn Investment Group Invests $40,000 in Loews Co. (NYSE:L)

Brooklyn Investment Group bought a new position in shares of Loews Co. (NYSE:L) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 511 shares of the insurance provider’s stock, valued at approximately $40,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd bought a new position in shares of Loews during the 3rd quarter worth approximately $674,000. Daiwa Securities Group Inc. boosted its stake in Loews by 11.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 22,632 shares of the insurance provider’s stock valued at $1,789,000 after purchasing an additional 2,304 shares during the period. Summit Trail Advisors LLC boosted its stake in Loews by 2.6% in the 3rd quarter. Summit Trail Advisors LLC now owns 6,038 shares of the insurance provider’s stock valued at $477,000 after purchasing an additional 153 shares during the period. Swedbank AB boosted its stake in Loews by 8.8% in the 3rd quarter. Swedbank AB now owns 379,647 shares of the insurance provider’s stock valued at $30,011,000 after purchasing an additional 30,600 shares during the period. Finally, Cerity Partners LLC boosted its stake in Loews by 64.2% in the 3rd quarter. Cerity Partners LLC now owns 29,755 shares of the insurance provider’s stock valued at $2,352,000 after purchasing an additional 11,637 shares during the period. 58.33% of the stock is currently owned by institutional investors.

Loews Price Performance

Shares of NYSE L opened at $86.78 on Friday. The stock has a market capitalization of $18.90 billion, a PE ratio of 11.52 and a beta of 0.82. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. The business has a fifty day moving average price of $81.20 and a two-hundred day moving average price of $78.71. Loews Co. has a fifty-two week low of $67.20 and a fifty-two week high of $87.45.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.25 annualized dividend and a yield of 0.29%. Loews’s dividend payout ratio is presently 3.32%.

Insider Buying and Selling at Loews

In other Loews news, Director Ann E. Berman sold 1,087 shares of Loews stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total value of $88,460.06. Following the completion of the transaction, the director now directly owns 4,998 shares of the company’s stock, valued at $406,737.24. The trade was a 17.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew H. Tisch sold 75,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $83.16, for a total value of $6,237,000.00. Following the transaction, the director now directly owns 12,089,677 shares of the company’s stock, valued at $1,005,377,539.32. This trade represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 213,587 shares of company stock valued at $17,586,460 in the last three months. Corporate insiders own 18.70% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Loews from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th.

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.