Loews Corporation (NYSE:L) Shares Sold by Florida Financial Advisors LLC

Florida Financial Advisors LLC lowered its holdings in shares of Loews Corporation (NYSE:L - Free Report) by 62.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,242 shares of the insurance provider's stock after selling 3,802 shares during the period. Florida Financial Advisors LLC's holdings in Loews were worth $206,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of L. Wayfinding Financial LLC purchased a new position in shares of Loews during the 1st quarter worth $25,000. Minot DeBlois Advisors LLC purchased a new position in shares of Loews during the 4th quarter valued at $27,000. Sierra Ocean LLC lifted its stake in shares of Loews by 805.9% during the 1st quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock valued at $28,000 after buying an additional 274 shares in the last quarter. Itau Unibanco Holding S.A. lifted 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 buying an additional 345 shares in the last quarter. Finally, NBC Securities Inc. purchased a new position in shares of Loews during the 1st quarter valued at $40,000. Institutional investors 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 Price Performance

Shares of NYSE:L traded up $1.13 on Thursday, reaching $92.07. The company's stock had a trading volume of 394,663 shares, compared to its average volume of 742,473. Loews Corporation has a 52-week low of $75.16 and a 52-week high of $92.85. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.33 and a current ratio of 0.33. The company has a 50-day simple moving average of $89.44 and a 200 day simple moving average of $86.93. The company has a market cap of $19.31 billion, a P/E ratio of 15.12 and a beta of 0.70.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The insurance provider reported $1.74 EPS 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend was Wednesday, May 28th. Loews's dividend payout ratio (DPR) is currently 4.11%.

Insider Activity at Loews

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

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.