Carolina Wealth Advisors LLC Trims Stock Position in Loews Corporation (NYSE:L)

Carolina Wealth Advisors LLC cut its stake in shares of Loews Corporation (NYSE:L - Free Report) by 59.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,003 shares of the insurance provider's stock after selling 5,914 shares during the quarter. Carolina Wealth Advisors LLC's holdings in Loews were worth $368,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in L. Halbert Hargrove Global Advisors LLC bought a new position in shares of Loews during the 4th quarter valued at approximately $26,000. Minot DeBlois Advisors LLC bought a new position in shares of Loews during the 4th quarter valued at approximately $27,000. Itau Unibanco Holding S.A. grew its stake in shares of Loews by 387.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider's stock valued at $37,000 after acquiring an additional 345 shares during the period. NBC Securities Inc. bought a new position in shares of Loews during the 1st quarter valued at approximately $40,000. Finally, UMB Bank n.a. grew its stake in shares of Loews by 80.1% during the 1st quarter. UMB Bank n.a. now owns 470 shares of the insurance provider's stock valued at $43,000 after acquiring an additional 209 shares during the period. 58.33% of the stock is currently owned by institutional investors.

Loews Trading Up 0.5%

L stock opened at $90.45 on Friday. Loews Corporation has a 1-year low of $73.15 and a 1-year high of $92.42. 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 $18.97 billion, a price-to-earnings ratio of 14.85 and a beta of 0.71. The business has a 50 day simple moving average of $88.12 and a two-hundred day simple moving average of $86.26.

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

Loews Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, SVP Richard Waldo Scott sold 9,019 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $87.92, for a total transaction of $792,950.48. Following the completion of the transaction, the senior vice president now directly owns 33,901 shares in the company, valued at approximately $2,980,575.92. This represents a 21.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 19.00% 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.

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