Rhumbline Advisers Has $33.78 Million Position in Loews Co. (NYSE:L)

Rhumbline Advisers boosted its stake in shares of Loews Co. (NYSE:L - Free Report) by 9.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 367,536 shares of the insurance provider's stock after purchasing an additional 31,781 shares during the period. Rhumbline Advisers owned 0.18% of Loews worth $33,780,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of L. Bank of New York Mellon Corp raised its stake in Loews by 6.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider's stock valued at $109,067,000 after buying an additional 77,386 shares during the period. Fidelis Capital Partners LLC bought a new stake in Loews in the fourth quarter valued at approximately $440,000. Y Intercept Hong Kong Ltd bought a new stake in Loews in the fourth quarter valued at approximately $425,000. Steward Partners Investment Advisory LLC raised its stake in Loews by 13.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,433 shares of the insurance provider's stock valued at $206,000 after buying an additional 288 shares during the period. Finally, Novem Group bought a new stake in Loews in the fourth quarter valued at approximately $678,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, SVP Richard Waldo Scott sold 9,019 shares of the firm's 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 sale, the senior vice president now owns 33,901 shares of the company's stock, valued at $2,980,575.92. This trade represents a 21.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jonathan M. Tisch sold 47,636 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $84.88, for a total value of $4,043,343.68. Following the sale, the director now directly owns 6,705,529 shares in the company, valued at approximately $569,165,301.52. This trade represents a 0.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 106,655 shares of company stock worth $9,069,294 in the last 90 days. Company insiders own 19.00% of the company's stock.

Loews Stock Performance

Shares of NYSE L traded up $0.58 during trading hours on Friday, reaching $89.19. 417,759 shares of the stock were exchanged, compared to its average volume of 723,121. The firm has a market capitalization of $18.70 billion, a price-to-earnings ratio of 13.94 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 Co. has a 52 week low of $73.15 and a 52 week high of $92.42. The stock's fifty day simple moving average is $87.01 and its 200 day simple moving average is $85.94.

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

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.25 dividend on an annualized basis and a yield of 0.28%. Loews's dividend payout ratio (DPR) is presently 4.11%.

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.