TD Asset Management Inc cut its stake in Loews Corporation (NYSE:L - Free Report) by 29.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 275,071 shares of the insurance provider's stock after selling 114,919 shares during the period. TD Asset Management Inc owned about 0.13% of Loews worth $25,282,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of L. Thrivent Financial for Lutherans lifted its holdings in Loews by 19.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 9,988 shares of the insurance provider's stock worth $846,000 after buying an additional 1,637 shares during the last quarter. American Century Companies Inc. lifted its holdings in Loews by 6.9% during the 4th quarter. American Century Companies Inc. now owns 89,589 shares of the insurance provider's stock worth $7,587,000 after buying an additional 5,750 shares during the last quarter. Blair William & Co. IL lifted its holdings in Loews by 8.4% during the 4th quarter. Blair William & Co. IL now owns 8,187 shares of the insurance provider's stock worth $693,000 after buying an additional 634 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in Loews by 0.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 87,032 shares of the insurance provider's stock worth $7,371,000 after buying an additional 712 shares during the last quarter. Finally, Orion Portfolio Solutions LLC lifted its holdings in Loews by 16.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 21,695 shares of the insurance provider's stock worth $1,837,000 after buying an additional 3,078 shares during the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, Wall Street Zen upgraded Loews from a "hold" rating to a "buy" rating in a research report on Tuesday, May 6th.
Check Out Our Latest Stock Report on Loews
Loews Stock Performance
L stock traded down $0.35 during trading on Friday, hitting $90.20. The company had a trading volume of 984,617 shares, compared to its average volume of 760,704. The firm has a market cap of $18.91 billion, a PE ratio of 14.81 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 firm has a 50-day moving average price of $90.13 and a 200-day moving average price of $87.58. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.47.
Loews (NYSE:L - Get Free Report) last released its earnings results on Monday, May 5th. The insurance provider reported $1.74 earnings per share (EPS) for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%. The company had revenue of $4.49 billion for the quarter.
Loews Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 annualized dividend and a yield of 0.3%. Loews's payout ratio is presently 4.11%.
Insider Transactions 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 owned 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. Insiders own 19.00% of the company's stock.
Loews Company Profile
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Free Report)
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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