QRG Capital Management Inc. Cuts Stock Position in Loews Corporation (NYSE:L)

QRG Capital Management Inc. lessened its holdings in shares of Loews Corporation (NYSE:L - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 have also recently made changes to their positions in L. Norges Bank purchased a new stake in Loews during the 4th quarter worth approximately $623,493,000. Geode Capital Management LLC lifted its stake in shares of Loews by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider's stock worth $378,087,000 after buying an additional 210,594 shares during the period. Invesco Ltd. grew its holdings in shares of Loews by 0.8% during the fourth quarter. Invesco Ltd. now owns 4,462,387 shares of the insurance provider's stock valued at $377,920,000 after buying an additional 33,428 shares during the last quarter. Northern Trust Corp increased its position in shares of Loews by 2.6% in the 4th quarter. Northern Trust Corp now owns 2,097,608 shares of the insurance provider's stock valued at $177,646,000 after acquiring an additional 53,625 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Loews by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,623,291 shares of the insurance provider's stock worth $137,477,000 after acquiring an additional 11,540 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company's stock.

Insider Buying and Selling at Loews

In related news, SVP Richard Waldo Scott sold 9,019 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $87.92, for a total transaction of $792,950.48. Following 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 19.00% of the company's stock.

Loews Stock Performance

NYSE:L traded up $0.71 during midday trading on Friday, hitting $89.04. The company's stock had a trading volume of 2,101,653 shares, compared to its average volume of 774,529. Loews Corporation has a fifty-two week low of $73.15 and a fifty-two week high of $92.42. 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 firm has a market cap of $18.67 billion, a P/E ratio of 14.62 and a beta of 0.71. The firm's 50 day moving average is $87.59 and its 200-day moving average is $86.07.

Loews (NYSE:L - Get Free Report) last released its quarterly earnings data 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 for the quarter.

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 given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.28%. The ex-dividend date was Wednesday, May 28th. Loews's dividend payout ratio is currently 4.11%.

Wall Street Analyst Weigh In

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

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.