Balyasny Asset Management L.P. Decreases Stock Holdings in Loews Co. (NYSE:L)

Balyasny Asset Management L.P. cut its stake in Loews Co. (NYSE:L) by 7.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 114,395 shares of the insurance provider’s stock after selling 9,741 shares during the period. Balyasny Asset Management L.P.’s holdings in Loews were worth $9,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Miracle Mile Advisors LLC acquired a new stake in Loews during the fourth quarter worth about $315,000. Nordea Investment Management AB raised its position in shares of Loews by 7.5% during the 4th quarter. Nordea Investment Management AB now owns 15,619 shares of the insurance provider’s stock valued at $1,323,000 after buying an additional 1,085 shares during the period. Bank of New York Mellon Corp lifted its holdings in Loews by 6.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider’s stock valued at $109,067,000 after acquiring an additional 77,386 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in Loews in the fourth quarter valued at approximately $440,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Loews in the fourth quarter worth approximately $425,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Loews from a “hold” rating to a “buy” rating in a research report on Tuesday.

Insider Buying and Selling

In other Loews news, Director Jonathan M. Tisch sold 50,000 shares of Loews stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $84.66, for a total value of $4,233,000.00. Following the transaction, the director now directly owns 6,755,529 shares in the company, valued at approximately $571,923,085.14. The trade was a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 147,636 shares of company stock worth $12,530,344 in the last ninety days. 19.00% of the stock is owned by corporate insiders.

Loews Stock Up 0.1 %

Shares of NYSE L opened at $87.94 on Friday. The stock has a market cap of $18.50 billion, a P/E ratio of 13.74 and a beta of 0.70. The business’s fifty day simple moving average is $86.54 and its 200-day simple moving average is $84.88. Loews Co. has a 12-month low of $73.15 and a 12-month high of $92.42. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50.

Loews (NYSE:L) last posted its quarterly earnings results on Monday, May 5th. The insurance provider reported $1.74 EPS for the quarter. The company had revenue of $4.49 billion during the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Dividend Announcement

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 $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Wednesday, February 26th. Loews’s dividend payout ratio (DPR) is 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.