Mendota Financial Group LLC Decreases Stock Position in Loews Corporation (NYSE:L)

Mendota Financial Group LLC lessened its stake in Loews Corporation (NYSE:L - Free Report) by 72.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,174 shares of the insurance provider's stock after selling 38,186 shares during the quarter. Loews comprises about 1.4% of Mendota Financial Group LLC's holdings, making the stock its 14th largest holding. Mendota Financial Group LLC's holdings in Loews were worth $1,303,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of L. Empowered Funds LLC boosted its stake in shares of Loews by 13.5% during the 4th quarter. Empowered Funds LLC now owns 3,393 shares of the insurance provider's stock valued at $287,000 after buying an additional 403 shares during the last quarter. Principal Securities Inc. boosted its stake in shares of Loews by 24.4% during the 4th quarter. Principal Securities Inc. now owns 1,440 shares of the insurance provider's stock valued at $122,000 after buying an additional 282 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Loews by 8.5% during the 4th quarter. Sanctuary Advisors LLC now owns 9,279 shares of the insurance provider's stock valued at $800,000 after buying an additional 724 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Loews by 10.6% during the 4th quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider's stock valued at $105,000 after buying an additional 119 shares during the last quarter. Finally, Bryn Mawr Capital Management LLC boosted its stake in shares of Loews by 7.9% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 3,400 shares of the insurance provider's stock valued at $274,000 after buying an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company's stock.

Loews Stock Performance

Loews stock opened at $89.04 on Friday. The stock has a market cap of $18.67 billion, a P/E ratio of 14.62 and a beta of 0.71. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average of $87.68 and a 200-day moving average of $86.10. Loews Corporation has a 52 week low of $73.15 and a 52 week high of $92.42.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $4.49 billion for the quarter.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Wednesday, May 28th. Loews's dividend payout ratio (DPR) is presently 4.11%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Loews news, SVP Richard Waldo Scott sold 9,019 shares of the firm's 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 sale, the senior vice president now directly owns 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 19.00% of the stock is currently owned by company insiders.

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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