Mutual of America Capital Management LLC Reduces Stock Position in Loews Co. (NYSE:L)

Mutual of America Capital Management LLC lessened its stake in shares of Loews Co. (NYSE:L) by 2.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 22,436 shares of the insurance provider’s stock after selling 460 shares during the period. Mutual of America Capital Management LLC’s holdings in Loews were worth $1,774,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc grew its holdings in Loews by 244.0% during the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 266 shares in the last quarter. Eastern Bank acquired a new stake in Loews during the 3rd quarter valued at approximately $47,000. Kimelman & Baird LLC purchased a new position in shares of Loews during the 2nd quarter valued at approximately $45,000. Family Firm Inc. acquired a new stake in shares of Loews during the 2nd quarter valued at about $46,000. Finally, Innealta Capital LLC acquired a new stake in Loews in the second quarter valued at approximately $51,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Stock Up 1.1 %

NYSE L opened at $86.07 on Monday. Loews Co. has a 1-year low of $67.20 and a 1-year high of $86.27. The company has a 50 day moving average of $80.44 and a 200-day moving average of $78.41. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. The company has a market cap of $18.74 billion, a price-to-earnings ratio of 11.43 and a beta of 0.82.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.25 annualized dividend and a yield of 0.29%. Loews’s payout ratio is 3.32%.

Insider Buying and Selling at Loews

In other news, insider Jonathan M. Tisch sold 62,500 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $80.84, for a total transaction of $5,052,500.00. Following the transaction, the insider now directly owns 6,781,634 shares of the company’s stock, valued at approximately $548,227,292.56. This trade represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $83.26, for a total transaction of $4,163,000.00. Following the transaction, the director now directly owns 11,939,677 shares of the company’s stock, valued at approximately $994,097,507.02. This trade represents a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 213,587 shares of company stock worth $17,586,460. Insiders own 18.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Jefferies Financial Group dropped their price objective on Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. StockNews.com cut Loews from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th.

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.