Mutual of America Capital Management LLC Lowers Holdings in Loews Co. (NYSE:L)

Mutual of America Capital Management LLC decreased its stake in shares of Loews Co. (NYSE:L) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,654 shares of the insurance provider’s stock after selling 782 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Loews were worth $1,834,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its holdings in shares of Loews by 26.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 27,462 shares of the insurance provider’s stock worth $2,171,000 after purchasing an additional 5,742 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Loews by 3.0% in the 3rd quarter. Principal Financial Group Inc. now owns 248,665 shares of the insurance provider’s stock worth $19,657,000 after purchasing an additional 7,149 shares in the last quarter. Axxcess Wealth Management LLC bought a new stake in shares of Loews in the 3rd quarter worth $204,000. Colonial River Investments LLC bought a new stake in shares of Loews in the 3rd quarter worth $204,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Loews by 1.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 509,349 shares of the insurance provider’s stock worth $40,264,000 after purchasing an additional 5,655 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Stock Performance

NYSE:L opened at $85.35 on Friday. The stock has a 50-day simple moving average of $84.70 and a two-hundred day simple moving average of $82.69. Loews Co. has a 52-week low of $72.91 and a 52-week high of $88.29. The firm has a market capitalization of $18.17 billion, a PE ratio of 13.34 and a beta of 0.80. 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 (NYSE:L) last announced its quarterly earnings data on Monday, February 10th. The insurance provider reported $0.86 EPS for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th will be given a $0.0625 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. Loews’s dividend payout ratio is currently 3.91%.

Analysts Set New Price Targets

Separately, StockNews.com lowered Loews from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th.

Insider Buying and Selling

In related news, Director Jonathan M. Tisch sold 3,691 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jonathan M. Tisch sold 50,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $85.08, for a total value of $4,254,000.00. Following the completion of the transaction, the director now directly owns 7,105,529 shares in the company, valued at approximately $604,538,407.32. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,224 shares of company stock worth $5,210,120. 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.