Mn Services Vermogensbeheer B.V. lowered its stake in shares of Loews Co. (NYSE:L – Free Report) by 12.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,300 shares of the insurance provider’s stock after selling 9,800 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Loews were worth $6,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently modified their holdings of L. Bank of New York Mellon Corp boosted its stake in Loews by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider’s stock worth $109,067,000 after acquiring an additional 77,386 shares in the last quarter. Novem Group bought a new stake in Loews during the fourth quarter worth about $678,000. Fidelis Capital Partners LLC bought a new stake in Loews during the fourth quarter worth about $440,000. Y Intercept Hong Kong Ltd bought a new stake in Loews during the fourth quarter worth about $425,000. Finally, Steward Partners Investment Advisory LLC boosted its stake in Loews by 13.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,433 shares of the insurance provider’s stock worth $206,000 after acquiring an additional 288 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.
Loews Trading Down 0.2%
Shares of NYSE L opened at $88.53 on Tuesday. The firm’s 50 day moving average price is $87.43 and its 200-day moving average price is $86.03. The company has a market cap of $18.56 billion, a PE ratio of 13.83 and a beta of 0.71. Loews Co. has a 52-week low of $73.15 and a 52-week high of $92.42. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34.
Loews Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.25 dividend on an annualized basis and a yield of 0.28%. Loews’s dividend payout ratio (DPR) is 4.11%.
Insider Activity at Loews
In related news, SVP Richard Waldo Scott sold 9,019 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $87.92, for a total transaction of $792,950.48. Following the transaction, the senior vice president now owns 33,901 shares in the company, valued at $2,980,575.92. This represents a 21.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 19.00% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen upgraded shares of Loews from a “hold” rating to a “buy” rating in a research note on Tuesday, May 6th.
Get Our Latest Research Report on L
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.
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