Foundation Resource Management Inc. Decreases Stock Position in Loews Co. (NYSE:L)

Foundation Resource Management Inc. reduced its holdings in Loews Co. (NYSE:L - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,385 shares of the insurance provider's stock after selling 4,200 shares during the period. Loews makes up 1.9% of Foundation Resource Management Inc.'s holdings, making the stock its 19th biggest position. Foundation Resource Management Inc. owned 0.06% of Loews worth $11,892,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of L. Bank of New York Mellon Corp boosted its stake in shares of Loews by 6.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider's stock valued at $109,067,000 after purchasing an additional 77,386 shares during the period. Fidelis Capital Partners LLC acquired a new stake in Loews during the 4th quarter worth $440,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Loews during the fourth quarter worth about $425,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Loews by 13.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,433 shares of the insurance provider's stock worth $206,000 after buying an additional 288 shares during the last quarter. Finally, Novem Group purchased a new position in shares of Loews in the 4th quarter valued at approximately $678,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Stock Performance

NYSE L traded up $0.65 during trading hours on Thursday, hitting $89.20. 622,578 shares of the stock were exchanged, compared to its average volume of 724,052. Loews Co. has a 12-month low of $73.15 and a 12-month high of $92.42. The stock has a 50-day moving average of $86.98 and a 200 day moving average of $85.99. The company has a market cap of $18.70 billion, a price-to-earnings ratio of 13.94 and a beta of 0.71. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50.

Loews (NYSE:L - Get Free Report) last issued its earnings results on Monday, May 5th. The insurance provider reported $1.74 earnings per share (EPS) for the quarter. The business had revenue of $4.49 billion during the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 0.28%. The ex-dividend date was Wednesday, May 28th. Loews's payout ratio is 4.11%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Loews

In other news, SVP Richard Waldo Scott sold 9,019 shares of the business's 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 sale, the senior vice president now owns 33,901 shares of the company's stock, valued at $2,980,575.92. The trade was a 21.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.70% of the stock is owned by corporate 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.