Loews Corporation (NYSE:L) Shares Sold by Mendota Financial Group LLC

Mendota Financial Group LLC decreased its stake in shares of Loews Corporation (NYSE:L - Free Report) by 72.9% during the first quarter, according to the company in its most recent Form 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 period. Loews comprises 1.4% of Mendota Financial Group LLC's portfolio, making the stock its 14th largest holding. Mendota Financial Group LLC's holdings in Loews were worth $1,303,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC bought a new position in Loews in the 4th quarter worth $26,000. Minot DeBlois Advisors LLC bought a new position in shares of Loews in the fourth quarter worth about $27,000. Itau Unibanco Holding S.A. lifted its position in shares of Loews by 387.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider's stock valued at $37,000 after buying an additional 345 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Loews during the 1st quarter valued at approximately $40,000. Finally, UMB Bank n.a. increased its holdings in Loews by 80.1% in the 1st 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 currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Loews Price Performance

Shares of NYSE:L traded down $1.10 during midday trading on Wednesday, reaching $88.88. 718,712 shares of the company were exchanged, compared to its average volume of 730,651. The stock has a market cap of $18.64 billion, a PE ratio of 14.59 and a beta of 0.71. The business's fifty day moving average is $87.85 and its two-hundred day moving average is $86.16. Loews Corporation has a one year low of $73.15 and a one year high of $92.42. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.47.

Loews (NYSE:L - Get Free Report) last issued 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 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. Shareholders of record on Wednesday, May 28th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Wednesday, May 28th. Loews's dividend payout ratio (DPR) is 4.11%.

Insider Activity at Loews

In other Loews news, SVP Richard Waldo Scott sold 9,019 shares of the stock in a transaction dated 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 now directly owns 33,901 shares of the company's stock, valued at approximately $2,980,575.92. This 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 hyperlink. 19.00% of the stock is 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.