QRG Capital Management Inc. Trims Stock Position in Loews Co. (NYSE:L)

QRG Capital Management Inc. trimmed its holdings in Loews Co. (NYSE:L - Free Report) by 4.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 107,669 shares of the insurance provider's stock after selling 4,578 shares during the period. QRG Capital Management Inc. owned approximately 0.05% of Loews worth $9,896,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Empowered Funds LLC raised its stake in shares of Loews by 13.5% in the 4th quarter. Empowered Funds LLC now owns 3,393 shares of the insurance provider's stock valued at $287,000 after acquiring an additional 403 shares during the period. Asset Management One Co. Ltd. raised its position in Loews by 1.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 74,791 shares of the insurance provider's stock valued at $6,333,000 after purchasing an additional 864 shares during the period. Principal Securities Inc. lifted its stake in Loews by 24.4% during the fourth quarter. Principal Securities Inc. now owns 1,440 shares of the insurance provider's stock worth $122,000 after purchasing an additional 282 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of Loews by 8.5% during the fourth quarter. Sanctuary Advisors LLC now owns 9,279 shares of the insurance provider's stock worth $800,000 after buying an additional 724 shares during the period. Finally, Human Investing LLC purchased a new position in shares of Loews during the fourth quarter worth $51,000. Institutional investors and hedge funds own 58.33% of the company's stock.

Insider Buying and Selling at Loews

In other news, SVP Richard Waldo Scott sold 9,019 shares of the firm's stock in a transaction 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 19.00% of the stock is owned by corporate insiders.

Loews Trading Down 0.2%

Shares of L stock opened at $88.53 on Tuesday. Loews Co. has a fifty-two week low of $73.15 and a fifty-two week high of $92.42. The company has a 50 day moving average price of $87.43 and a 200 day moving average price of $86.03. The stock has a market capitalization of $18.56 billion, a P/E ratio of 13.83 and a beta of 0.71. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The insurance provider reported $1.74 EPS for the quarter. The business had revenue of $4.49 billion during the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were issued 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 0.28%. Loews's dividend payout ratio (DPR) is 4.11%.

Wall Street Analyst Weigh In

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

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.

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