Mn Services Vermogensbeheer B.V. Sells 9,800 Shares of Loews Corporation (NYSE:L)

Mn Services Vermogensbeheer B.V. trimmed its position in Loews Corporation (NYSE:L - Free Report) by 12.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,300 shares of the insurance provider's stock after selling 9,800 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Loews were worth $6,369,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in L. Brighton Jones LLC bought a new stake in shares of Loews in the 1st quarter worth approximately $210,000. Ritholtz Wealth Management lifted its stake in shares of Loews by 17.0% in the 1st quarter. Ritholtz Wealth Management now owns 7,077 shares of the insurance provider's stock valued at $650,000 after acquiring an additional 1,026 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Loews by 6.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,424 shares of the insurance provider's stock valued at $1,418,000 after acquiring an additional 938 shares during the period. NorthCrest Asset Manangement LLC increased its stake in Loews by 5.8% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 4,582 shares of the insurance provider's stock worth $421,000 after purchasing an additional 253 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH bought a new stake in Loews in the first quarter valued at approximately $211,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Loews

In other news, SVP Richard Waldo Scott sold 9,019 shares of the business's stock in a transaction dated 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 now directly owns 33,901 shares in the company, valued at $2,980,575.92. The trade was a 21.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 19.00% of the stock is currently owned by insiders.

Loews Stock Performance

Shares of NYSE L traded up $0.71 during midday trading on Friday, hitting $89.04. 1,978,372 shares of the stock traded hands, compared to its average volume of 733,406. Loews Corporation has a one year low of $73.15 and a one year high of $92.42. The firm has a 50-day moving average of $87.59 and a two-hundred day moving average of $86.07. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market capitalization of $18.67 billion, a P/E ratio of 14.62 and a beta of 0.71.

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 company had revenue of $4.49 billion for the quarter.

Loews Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.25 annualized dividend and a yield of 0.28%. Loews's payout ratio is 4.11%.

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.