Bank of New York Mellon Corp Sells 8,859 Shares of Loews Corporation (NYSE:L)

Bank of New York Mellon Corp trimmed its holdings in shares of Loews Corporation (NYSE:L - Free Report) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,278,974 shares of the insurance provider's stock after selling 8,859 shares during the period. Bank of New York Mellon Corp owned 0.61% of Loews worth $117,551,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Wayfinding Financial LLC acquired a new stake in Loews during the 1st quarter worth $25,000. Minot DeBlois Advisors LLC bought a new stake in shares of Loews in the fourth quarter worth about $27,000. Itau Unibanco Holding S.A. increased its holdings in shares of Loews by 387.6% in the fourth 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. NBC Securities Inc. bought a new stake in shares of Loews in the first quarter worth about $40,000. Finally, UMB Bank n.a. increased its holdings in shares of Loews by 80.1% in the first quarter. UMB Bank n.a. now owns 470 shares of the insurance provider's stock worth $43,000 after acquiring an additional 209 shares in the last quarter. 58.33% of the stock is owned by institutional investors.

Loews Stock Down 0.3%

L traded down $0.28 during trading on Friday, reaching $90.22. The company had a trading volume of 243,265 shares, compared to its average volume of 781,161. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.33 and a quick ratio of 0.33. Loews Corporation has a 12 month low of $75.16 and a 12 month high of $92.85. The business's fifty day moving average price is $89.16 and its 200 day moving average price is $86.77. The company has a market cap of $18.92 billion, a P/E ratio of 14.81 and a beta of 0.70.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The insurance provider reported $1.74 earnings per share for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%. The firm had revenue of $4.49 billion for the quarter.

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Wednesday, May 28th. Loews's dividend payout ratio is presently 4.11%.

Analysts Set New Price Targets

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

Insider Activity at Loews

In other news, SVP Richard Waldo Scott sold 9,019 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $87.92, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 19.00% of the stock is currently 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.