Los Angeles Capital Management LLC Reduces Holdings in Loews Co. (NYSE:L)

Los Angeles Capital Management LLC cut its stake in Loews Co. (NYSE:L) by 53.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,391 shares of the insurance provider’s stock after selling 121,679 shares during the period. Los Angeles Capital Management LLC’s holdings in Loews were worth $8,329,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Altshuler Shaham Ltd acquired a new position in shares of Loews in the 4th quarter valued at $26,000. Northwest Financial Advisors acquired a new position in Loews in the fourth quarter valued at $28,000. Operose Advisors LLC purchased a new stake in shares of Loews in the third quarter valued at about $30,000. Desjardins Global Asset Management Inc. boosted its stake in shares of Loews by 225.2% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance provider’s stock worth $34,000 after buying an additional 340 shares during the period. Finally, Principal Securities Inc. purchased a new position in shares of Loews during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Stock Up 1.3 %

L opened at $76.20 on Thursday. Loews Co. has a 52 week low of $57.47 and a 52 week high of $78.55. The business has a 50 day moving average price of $75.65 and a two-hundred day moving average price of $73.99. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. The company has a market cap of $16.87 billion, a PE ratio of 11.31 and a beta of 0.85.

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

Loews Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend was Wednesday, May 29th. Loews’s dividend payout ratio (DPR) is presently 3.71%.

Insider Activity

In other news, insider Jonathan M. Tisch sold 50,000 shares of the 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 of the company’s stock, valued at approximately $47,037,564.61. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 150,000 shares of company stock valued at $11,588,500 over the last quarter. Corporate 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.