St. James Investment Company LLC decreased its stake in shares of Loews Corporation (NYSE:L - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 469,046 shares of the insurance provider's stock after selling 5,751 shares during the quarter. Loews makes up 7.2% of St. James Investment Company LLC's investment portfolio, making the stock its 4th biggest holding. St. James Investment Company LLC owned approximately 0.22% of Loews worth $43,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently bought and sold shares of L. Norges Bank purchased a new position in shares of Loews in the 4th quarter valued at about $623,493,000. Geode Capital Management LLC increased its holdings in shares of Loews by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider's stock valued at $378,087,000 after acquiring an additional 210,594 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Loews by 0.8% in the 4th quarter. Invesco Ltd. now owns 4,462,387 shares of the insurance provider's stock valued at $377,920,000 after acquiring an additional 33,428 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Loews by 2.6% in the 4th quarter. Northern Trust Corp now owns 2,097,608 shares of the insurance provider's stock valued at $177,646,000 after acquiring an additional 53,625 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Loews by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,623,291 shares of the insurance provider's stock valued at $137,477,000 after acquiring an additional 11,540 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company's stock.
Analyst Ratings Changes
Separately, Wall Street Zen upgraded Loews from a "hold" rating to a "buy" rating in a research note on Tuesday, May 6th.
Check Out Our Latest Research Report on Loews
Insiders Place Their Bets
In related news, SVP Richard Waldo Scott sold 9,019 shares of Loews stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $87.92, for a total value of $792,950.48. Following the transaction, the senior vice president owned 33,901 shares in the company, valued at approximately $2,980,575.92. This trade represents a 21.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 19.00% of the company's stock.
Loews Price Performance
L stock traded up $1.05 during midday trading on Thursday, hitting $92.39. 500,770 shares of the stock were exchanged, compared to its average volume of 735,554. The stock's 50-day moving average price is $88.52 and its 200-day moving average price is $86.41. The stock has a market cap of $19.37 billion, a price-to-earnings ratio of 15.17 and a beta of 0.70. Loews Corporation has a fifty-two week low of $73.15 and a fifty-two week high of $92.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.33 and a current ratio of 0.33.
Loews (NYSE:L - Get Free Report) last released its quarterly 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 during the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.
Loews Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Wednesday, May 28th. Loews's payout ratio is currently 4.11%.
About Loews
(
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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