Loews Co. (NYSE:L) Stock Position Cut by Wallace Capital Management Inc.

Wallace Capital Management Inc. lowered its holdings in Loews Co. (NYSE:L - Free Report) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 269,504 shares of the insurance provider's stock after selling 13,890 shares during the quarter. Loews makes up 3.1% of Wallace Capital Management Inc.'s portfolio, making the stock its 4th biggest position. Wallace Capital Management Inc. owned 0.12% of Loews worth $22,824,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Halbert Hargrove Global Advisors LLC bought a new position in shares of Loews during the 4th quarter worth approximately $26,000. Minot DeBlois Advisors LLC bought a new position in shares of Loews during the 4th quarter worth approximately $27,000. Itau Unibanco Holding S.A. raised 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 worth $37,000 after acquiring an additional 345 shares in the last quarter. Human Investing LLC bought a new position in shares of Loews during the 4th quarter worth approximately $51,000. Finally, Graney & King LLC bought a new position in shares of Loews during the 4th quarter worth approximately $56,000. 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 research note on Tuesday, May 6th.

Loews Stock Performance

NYSE:L traded up $0.27 during trading hours on Friday, hitting $87.86. 764,042 shares of the company were exchanged, compared to its average volume of 729,628. The stock has a market capitalization of $18.42 billion, a price-to-earnings ratio of 13.73 and a beta of 0.70. Loews Co. has a 52-week low of $73.15 and a 52-week high of $92.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The company's 50 day moving average price is $87.20 and its 200-day moving average price is $85.57.

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

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.28%. The ex-dividend date is Wednesday, May 28th. Loews's dividend payout ratio is presently 4.11%.

Insiders Place Their Bets

In other news, Director Jonathan M. Tisch sold 50,000 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $84.66, for a total value of $4,233,000.00. Following the sale, the director now directly owns 6,755,529 shares of the company's stock, valued at $571,923,085.14. This represents a 0.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard Waldo Scott sold 9,019 shares of the company's 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 completion of the sale, the senior vice president now directly owns 33,901 shares in the company, valued at $2,980,575.92. This trade represents a 21.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 156,655 shares of company stock valued at $13,323,294. 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.