Victory Capital Management Inc. Has $8.31 Million Holdings in Loews Co. (NYSE:L)

Victory Capital Management Inc. lessened its stake in shares of Loews Co. (NYSE:L) by 22.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 98,160 shares of the insurance provider’s stock after selling 28,662 shares during the period. Victory Capital Management Inc.’s holdings in Loews were worth $8,313,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in Loews by 3.0% during the third 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 during the period. Axxcess Wealth Management LLC acquired a new position in shares of Loews in the third quarter valued at $204,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Loews by 1.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 509,349 shares of the insurance provider’s stock valued at $40,264,000 after purchasing an additional 5,655 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its stake in shares of Loews by 215.6% in the third quarter. Ashton Thomas Private Wealth LLC now owns 7,340 shares of the insurance provider’s stock valued at $580,000 after purchasing an additional 5,014 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Loews by 1.6% in the third quarter. KBC Group NV now owns 62,785 shares of the insurance provider’s stock valued at $4,963,000 after purchasing an additional 999 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

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

Loews Trading Up 2.1 %

NYSE L opened at $86.56 on Friday. The firm has a market cap of $18.43 billion, a P/E ratio of 13.53 and a beta of 0.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The stock’s 50-day moving average is $84.75 and its 200-day moving average is $82.84. Loews Co. has a one year low of $72.91 and a one year high of $88.29.

Loews (NYSE:L) last posted its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews’s dividend payout ratio is 3.91%.

Insider Buying and Selling at Loews

In other Loews news, Director Jonathan M. Tisch sold 50,000 shares of the stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan M. Tisch sold 3,691 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. Insiders have sold a total of 158,860 shares of company stock valued at $13,486,463 in the last ninety days. 18.70% of the stock is currently owned by corporate insiders.

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.