Loews Co. (NYSE:L) Position Trimmed by Intech Investment Management LLC

Intech Investment Management LLC reduced its holdings in Loews Co. (NYSE:L) by 43.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 69,884 shares of the insurance provider’s stock after selling 53,694 shares during the quarter. Intech Investment Management LLC’s holdings in Loews were worth $4,863,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Commonwealth Equity Services LLC increased its position 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 during the period. Private Advisor Group LLC acquired a new stake in shares of Loews in the 3rd quarter worth about $201,000. NBC Securities Inc. bought a new stake in Loews in the 3rd quarter valued at about $29,000. Ieq Capital LLC bought a new position in Loews in the 3rd quarter worth about $222,000. Finally, Victory Capital Management Inc. increased its stake in shares of Loews by 5.7% in the third quarter. Victory Capital Management Inc. now owns 163,486 shares of the insurance provider’s stock valued at $10,350,000 after purchasing an additional 8,836 shares during the period. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Stock Performance

Shares of NYSE L traded up $0.59 during midday trading on Monday, hitting $74.75. 549,600 shares of the company’s stock were exchanged, compared to its average volume of 739,672. Loews Co. has a twelve month low of $55.94 and a twelve month high of $78.55. The firm has a market cap of $16.55 billion, a P/E ratio of 11.09 and a beta of 0.82. The stock’s 50 day moving average price is $76.33 and its 200-day moving average price is $73.11. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, May 6th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter. The company had revenue of $4.23 billion during the quarter. Loews had a return on equity of 9.45% and a net margin of 9.27%.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th will be given a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $0.25 dividend on an annualized basis and a yield of 0.33%. Loews’s dividend payout ratio is presently 3.71%.

Insider Buying and Selling at Loews

In related news, insider Jonathan M. Tisch sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $77.39, for a total transaction of $3,869,500.00. Following the sale, the insider now owns 607,799 shares of the company’s stock, valued at $47,037,564.61. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Paul J. Fribourg sold 951 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $75.02, for a total transaction of $71,344.02. Following the completion of the transaction, the director now owns 21,200 shares in the company, valued at approximately $1,590,424. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jonathan M. Tisch sold 50,000 shares of Loews stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $77.39, for a total transaction of $3,869,500.00. Following the completion of the transaction, the insider now directly owns 607,799 shares in the company, valued at approximately $47,037,564.61. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 150,951 shares of company stock valued at $11,659,844. Company insiders own 18.70% of the company’s stock.

About Loews

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.