Loews Corporation (NYSE:L) Position Lowered by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. has reduced its stake in Loews Corporation by 8.8%, selling 8,676 shares, bringing their total shares to 89,484, valued at approximately $8.2 million.
• Other investors have increased their positions in Loews, with Nisa Investment Advisors LLC raising its stake by 36.3%, making its total ownership 122,029 shares valued at about $11.2 million.
• Loews recently received an upgrade from "hold" to "buy" from Wall Street Zen, indicating a more favorable outlook for the stock.

Victory Capital Management Inc. decreased its stake in shares of Loews Corporation (NYSE:L - Free Report) by 8.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 89,484 shares of the insurance provider's stock after selling 8,676 shares during the period. Victory Capital Management Inc.'s holdings in Loews were worth $8,224,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Wealthfront Advisers LLC lifted its position in shares of Loews by 11.3% during the first quarter. Wealthfront Advisers LLC now owns 49,925 shares of the insurance provider's stock worth $4,589,000 after purchasing an additional 5,075 shares during the last quarter. Signaturefd LLC raised its stake in Loews by 4.0% during the first quarter. Signaturefd LLC now owns 3,940 shares of the insurance provider's stock worth $362,000 after acquiring an additional 152 shares during the period. Cerity Partners LLC raised its stake in Loews by 21.8% during the first quarter. Cerity Partners LLC now owns 37,621 shares of the insurance provider's stock worth $3,458,000 after acquiring an additional 6,728 shares during the period. Alan B Lancz & Associates Inc. acquired a new stake in Loews during the first quarter worth about $212,000. Finally, Nisa Investment Advisors LLC raised its stake in Loews by 36.3% during the first quarter. Nisa Investment Advisors LLC now owns 122,029 shares of the insurance provider's stock worth $11,216,000 after acquiring an additional 32,500 shares during the period. Institutional investors own 58.33% of the company's stock.

Analyst Ratings Changes

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

Insider Activity

In other Loews news, SVP Richard Waldo Scott sold 9,019 shares of Loews 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 owned 33,901 shares of the company's stock, valued at $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 is available at this hyperlink. 19.00% of the stock is owned by company insiders.

Loews Trading Up 0.4%

Shares of NYSE:L opened at $91.65 on Friday. The stock has a market capitalization of $19.22 billion, a price-to-earnings ratio of 15.05 and a beta of 0.70. Loews Corporation has a 1-year low of $75.16 and a 1-year high of $93.23. 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 moving average price of $89.90 and a 200 day moving average price of $87.31.

Loews (NYSE:L - Get Free Report) last issued its 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 return on equity of 7.43% and a net margin of 7.47%.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Wednesday, May 28th. Loews's dividend payout ratio (DPR) is currently 4.11%.

Loews 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.

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