Chase Investment Counsel Corp Raises Stake in Loews Co. (NYSE:L)

Chase Investment Counsel Corp grew its stake in shares of Loews Co. (NYSE:L) by 0.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 36,553 shares of the insurance provider’s stock after acquiring an additional 190 shares during the period. Chase Investment Counsel Corp’s holdings in Loews were worth $2,543,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Czech National Bank increased its holdings in shares of Loews by 44.3% in the 3rd quarter. Czech National Bank now owns 32,320 shares of the insurance provider’s stock worth $2,046,000 after buying an additional 9,927 shares during the last quarter. Ballentine Partners LLC purchased a new position in Loews during the 3rd quarter valued at $208,000. Commonwealth Equity Services LLC raised its stake in Loews by 8.0% in the third quarter. Commonwealth Equity Services LLC now owns 4,221 shares of the insurance provider’s stock worth $267,000 after buying an additional 313 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Loews by 16.8% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 140,331 shares of the insurance provider’s stock worth $8,884,000 after buying an additional 20,200 shares during the period. Finally, Toews Corp ADV bought a new stake in Loews during the 3rd quarter valued at approximately $779,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Stock Up 0.4 %

Shares of L stock traded up $0.31 during trading hours on Monday, hitting $75.77. 183,221 shares of the company’s stock traded hands, compared to its average volume of 746,877. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.48. The stock has a market cap of $16.84 billion, a price-to-earnings ratio of 12.02 and a beta of 0.83. The stock’s fifty day simple moving average is $75.74 and its two-hundred day simple moving average is $71.37. Loews Co. has a 12-month low of $55.94 and a 12-month high of $78.55.

Loews (NYSE:L) last posted its earnings results on Monday, February 5th. The insurance provider reported $1.99 EPS for the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%. The business had revenue of $4.26 billion during the quarter.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Wednesday, February 21st were given a $0.0625 dividend. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $0.25 annualized dividend and a yield of 0.33%. Loews’s payout ratio is 3.97%.

Insider Buying and Selling at Loews

In other Loews news, SVP Richard Waldo Scott sold 7,325 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $74.12, for a total value of $542,929.00. Following the transaction, the senior vice president now directly owns 51,965 shares in the company, valued at $3,851,645.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Paul J. Fribourg sold 951 shares of the 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 completion of the sale, the director now directly owns 21,200 shares of the company’s stock, valued at approximately $1,590,424. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Richard Waldo Scott sold 7,325 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $74.12, for a total transaction of $542,929.00. Following the completion of the sale, the senior vice president now owns 51,965 shares in the company, valued at approximately $3,851,645.80. The disclosure for this sale can be found here. Insiders sold a total of 137,563 shares of company stock worth $10,052,551 in the last three months. 18.70% of the stock is currently owned by company insiders.

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.