Pacer Advisors Inc. Sells 22,269 Shares of Loews Corporation (NYSE:L)

Pacer Advisors Inc. cut its holdings in Loews Corporation (NYSE:L - Free Report) by 46.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,332 shares of the insurance provider's stock after selling 22,269 shares during the quarter. Pacer Advisors Inc.'s holdings in Loews were worth $2,328,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of L. Geode Capital Management LLC raised its holdings in shares of Loews by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider's stock worth $378,087,000 after acquiring an additional 210,594 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Loews by 0.8% in the fourth quarter. Invesco Ltd. now owns 4,462,387 shares of the insurance provider's stock worth $377,920,000 after acquiring an additional 33,428 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Loews by 2.6% in the fourth quarter. Northern Trust Corp now owns 2,097,608 shares of the insurance provider's stock worth $177,646,000 after acquiring an additional 53,625 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Loews by 17.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,423,409 shares of the insurance provider's stock worth $120,549,000 after acquiring an additional 207,568 shares during the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of Loews by 7.2% in the fourth quarter. California State Teachers Retirement System now owns 758,592 shares of the insurance provider's stock worth $64,245,000 after acquiring an additional 51,028 shares during the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Loews Price Performance

Shares of NYSE:L traded down $0.35 during trading on Friday, reaching $90.20. The stock had a trading volume of 984,617 shares, compared to its average volume of 760,704. Loews Corporation has a 52 week low of $75.16 and a 52 week high of $93.23. The business's 50-day moving average price is $90.13 and its 200 day moving average price is $87.58. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.33 and a quick ratio of 0.33. The stock has a market capitalization of $18.91 billion, a PE ratio of 14.81 and a beta of 0.70.

Loews (NYSE:L - Get Free Report) last released its 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 firm had revenue of $4.49 billion during the quarter.

Loews Dividend Announcement

The business 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. The ex-dividend date was Wednesday, May 28th. This represents a $0.25 annualized dividend and a yield of 0.3%. Loews's dividend payout ratio (DPR) is 4.11%.

Analyst Ratings Changes

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

Insider Transactions at Loews

In other Loews news, SVP Richard Waldo Scott sold 9,019 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $2,980,575.92. This trade represents a 21.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 19.00% of the stock is owned by company insiders.

About Loews

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.