Bessemer Group Inc. Reduces Stock Position in Loews Corporation (NYSE:L)

Bessemer Group Inc. lowered its position in shares of Loews Corporation (NYSE:L - Free Report) by 69.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,331 shares of the insurance provider's stock after selling 39,568 shares during the period. Bessemer Group Inc.'s holdings in Loews were worth $1,592,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in L. Gilder Gagnon Howe & Co. LLC raised its holdings in Loews by 3.2% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 3,884 shares of the insurance provider's stock worth $329,000 after purchasing an additional 122 shares in the last quarter. Miracle Mile Advisors LLC raised its holdings in Loews by 3.5% in the 1st quarter. Miracle Mile Advisors LLC now owns 3,855 shares of the insurance provider's stock worth $354,000 after purchasing an additional 130 shares in the last quarter. Salvus Wealth Management LLC increased its stake in shares of Loews by 1.4% in the 1st quarter. Salvus Wealth Management LLC now owns 11,848 shares of the insurance provider's stock worth $1,089,000 after acquiring an additional 165 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Loews by 80.1% in the 1st quarter. UMB Bank n.a. now owns 470 shares of the insurance provider's stock worth $43,000 after acquiring an additional 209 shares in the last quarter. Finally, Metis Global Partners LLC increased its stake in shares of Loews by 3.7% in the 4th quarter. Metis Global Partners LLC now owns 6,158 shares of the insurance provider's stock worth $522,000 after acquiring an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company's stock.

Insiders Place Their Bets

In related news, SVP Richard Waldo Scott sold 9,019 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $87.92, for a total value of $792,950.48. Following the sale, the senior vice president now owns 33,901 shares in the company, valued at approximately $2,980,575.92. The trade was a 21.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 19.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Loews from a "hold" rating to a "buy" rating in a research note on Tuesday, May 6th.

Loews Stock Up 0.5%

NYSE:L opened at $90.45 on Friday. The firm has a market cap of $18.97 billion, a P/E ratio of 14.85 and a beta of 0.71. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.33 and a current ratio of 0.33. Loews Corporation has a fifty-two week low of $73.15 and a fifty-two week high of $92.42. The firm has a 50-day simple moving average of $88.12 and a two-hundred day simple moving average of $86.27.

Loews (NYSE:L - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The insurance provider reported $1.74 earnings per share for the quarter. The business had revenue of $4.49 billion during the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Wednesday, May 28th. Loews's payout ratio is presently 4.11%.

Loews Company 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.

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