Mount Lucas Management LP Has $2 Million Stock Holdings in Loews Corporation (NYSE:L)

Mount Lucas Management LP decreased its position in shares of Loews Corporation (NYSE:L - Free Report) by 47.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,790 shares of the insurance provider's stock after selling 19,716 shares during the period. Loews comprises 0.6% of Mount Lucas Management LP's holdings, making the stock its 28th largest holding. Mount Lucas Management LP's holdings in Loews were worth $2,003,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new position in Loews in the first quarter valued at $25,000. Minot DeBlois Advisors LLC bought a new stake in Loews in the 4th quarter worth about $27,000. Sierra Ocean LLC grew its position in Loews by 805.9% in the 1st quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock worth $28,000 after purchasing an additional 274 shares in the last quarter. Itau Unibanco Holding S.A. grew its position in Loews by 387.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider's stock worth $37,000 after purchasing an additional 345 shares in the last quarter. Finally, NBC Securities Inc. purchased a new position in Loews in the first quarter valued at about $40,000. Institutional investors and hedge funds own 58.33% of the company's stock.

Wall Street Analysts Forecast Growth

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

Loews Trading Up 0.8%

L stock opened at $92.07 on Wednesday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.47. Loews Corporation has a twelve month low of $75.16 and a twelve month high of $93.23. The stock has a market capitalization of $19.31 billion, a price-to-earnings ratio of 15.12 and a beta of 0.70. The firm's fifty day simple moving average is $89.60 and its two-hundred day simple moving average is $87.07.

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

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were paid a dividend of $0.0625 per share. The ex-dividend date was Wednesday, May 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.27%. Loews's payout ratio is 4.11%.

Insider Activity at Loews

In other 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 transaction of $792,950.48. Following the transaction, the senior vice president owned 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 18.70% of the stock is owned by 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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