New York Life Investment Management LLC cuts equity position in Loews Co. (NYSE:L)

On May 7, 2024By Vaseline

New York Life Investment Management LLC has sold its interest in the shares of Loews Co. (NYSE:L – Free Report) fell 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,205 shares of the insurance company, after selling 2,811 shares during the quarter. New York Life Investment Management LLC’s holdings in Loews were worth $1,824,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NBC Securities Inc. bought a new position in Loews worth $29,000 during the third quarter. Operase Advisors LLC bought a new position in shares of Loews during the third quarter valued at $30,000. Desjardins Global Asset Management Inc. increased its position in Loews shares by 225.2% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance company worth $34,000 after purchasing an additional 340 shares in the last quarter. Lindbrook Capital LLC grew its holdings in Loews by 41.4% in the fourth quarter. Lindbrook Capital LLC now owns 611 shares of the insurance company’s stock worth $43,000 after acquiring an additional 179 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in Loews in the fourth quarter worth approximately $200,000. 58.33% of the shares are owned by hedge funds and other institutional investors.

Insider activity at Loews

In related news, insider Jonathan M. Tisch sold 4,287 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares sold at an average price of $71.91, for a total transaction of $308,278.17. Following the transaction, the insider now owns 106,870 shares of the company’s stock, valued at $7,685,021.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this link. In other Loews news: Director Andrew H. Tisch sold 125,000 shares of Loews stock in a transaction dated Tuesday, February 13. The shares 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 of the company’s stock, valued at approximately $69,087,513.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed via this link. Insider Jonathan M. Tisch also sold 4,287 shares in a transaction dated Thursday, February 8. The stock sold at an average price of $71.91, for a total transaction of $308,278.17. Following the transaction, the insider now owns 106,870 shares in the company, valued at $7,685,021.70. The explanation of this sale can be found here. Last quarter, insiders sold 137,563 company shares worth $10,052,551. 18.70% of the shares are owned by insiders.

Loews shares rise 1.8%

Shares of NYSE L opened at $77.75 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.32 and a quick ratio of 0.32. Loews Co. has a 12-month low of $55.94 and a 12-month high of $78.55. The company has a market cap of $17.28 billion, a price-to-earnings ratio of 12.34 and a beta of 0.82. The company’s 50-day moving average is $75.95 and its two-hundred-day moving average is $71.87.

Loews (NYSE:L – Get Free Report) last reported its quarterly results on Monday, February 5. The insurance company reported earnings per share of $1.99 for the quarter. The company had revenue of $4.26 billion this quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%.

About Loews

(Free report)

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 coverage; and casualty insurance products, such as workers’ compensation, general and product liability, and commercial auto, surplus and umbrella coverages.

Insider activity at Loews

Loews shares rise 1.8%

About Loews

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