Bryce Point Capital LLC Trims Stock Position in Loews Corporation (NYSE:L)

Key Points

• Bryce Point Capital LLC reduced its holdings in Loews Corporation by 53.5%, selling nearly 9,384 shares and leaving it with 8,165 shares valued at approximately $703,000.
• Loews Corporation recently announced a quarterly dividend of $0.0625 per share, representing an annualized dividend of $0.25 and a yield of 0.27%.
• Wall Street Zen upgraded Loews' rating from "hold" to "buy", indicating positive sentiment among analysts regarding the company's performance.

Bryce Point Capital LLC decreased its stake in Loews Corporation (NYSE:L - Free Report) by 53.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,165 shares of the insurance provider's stock after selling 9,384 shares during the period. Bryce Point Capital LLC's holdings in Loews were worth $703,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in L. GAMMA Investing LLC grew its stake in Loews by 10,114.9% in the first quarter. GAMMA Investing LLC now owns 672,138 shares of the insurance provider's stock valued at $61,776,000 after acquiring an additional 665,558 shares during the period. Geode Capital Management LLC lifted its stake in Loews by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider's stock valued at $378,087,000 after purchasing an additional 210,594 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Loews by 17.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,423,409 shares of the insurance provider's stock worth $120,549,000 after acquiring an additional 207,568 shares during the last quarter. First Trust Advisors LP boosted its holdings in Loews by 51.2% in the 4th quarter. First Trust Advisors LP now owns 531,038 shares of the insurance provider's stock worth $44,974,000 after buying an additional 179,772 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in Loews by 63.2% during the fourth quarter. BNP Paribas Financial Markets now owns 384,459 shares of the insurance provider's stock valued at $32,560,000 after acquiring an additional 148,890 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company's stock.

Analysts Set New Price Targets

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

Loews Stock Performance

Loews stock traded down $0.86 during mid-day trading on Wednesday, reaching $90.26. 441,594 shares of the company traded hands, compared to its average volume of 780,038. The firm's fifty day moving average is $89.97 and its two-hundred day moving average is $87.45. Loews Corporation has a fifty-two week low of $75.16 and a fifty-two week high of $93.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.33 and a quick ratio of 0.33. The company has a market capitalization of $18.93 billion, a price-to-earnings ratio of 14.82 and a beta of 0.70.

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

Loews Announces Dividend

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

Insider Transactions at Loews

In other news, SVP Richard Waldo Scott sold 9,019 shares of Loews stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $87.92, for a total value of $792,950.48. Following the completion of the transaction, the senior vice president owned 33,901 shares in the company, valued at approximately $2,980,575.92. This trade represents a 21.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.