Squarepoint Ops LLC Sells 28,671 Shares of Loews Co. (NYSE:L)

Squarepoint Ops LLC reduced its stake in shares of Loews Co. (NYSE:L - Free Report) by 77.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,271 shares of the insurance provider's stock after selling 28,671 shares during the quarter. Squarepoint Ops LLC's holdings in Loews were worth $700,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Two Sigma Advisers LP acquired a new stake in shares of Loews during the 4th quarter worth approximately $1,220,000. Two Sigma Investments LP bought a new stake in Loews during the fourth quarter worth $9,284,000. Tidal Investments LLC boosted its holdings in shares of Loews by 9.6% in the 4th quarter. Tidal Investments LLC now owns 12,746 shares of the insurance provider's stock valued at $1,079,000 after purchasing an additional 1,115 shares in the last quarter. Teza Capital Management LLC bought a new position in shares of Loews in the 4th quarter valued at $2,559,000. Finally, State of Wyoming increased its stake in shares of Loews by 89.2% in the 4th quarter. State of Wyoming now owns 5,940 shares of the insurance provider's stock valued at $503,000 after purchasing an additional 2,800 shares during the last quarter. 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 report on Tuesday, May 6th.

Loews Price Performance

Shares of L traded up $0.58 during mid-day trading on Friday, reaching $89.19. The company had a trading volume of 417,759 shares, compared to its average volume of 722,528. The company 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. The company's 50 day simple moving average is $87.06 and its 200 day simple moving average is $85.90. Loews Co. has a 1-year low of $73.15 and a 1-year high of $92.42.

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

Loews Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Wednesday, May 28th. Loews's payout ratio is 4.11%.

Insider Activity at Loews

In other Loews news, Director Jonathan M. Tisch sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $84.66, for a total transaction of $4,233,000.00. Following the sale, the director now directly owns 6,755,529 shares of the company's stock, valued at $571,923,085.14. The trade was a 0.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $792,950.48. Following the transaction, the senior vice president now directly owns 33,901 shares of the company's stock, valued at $2,980,575.92. The trade was a 21.01% 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 valued at $9,069,294 in the last 90 days. 19.00% of the stock is owned by corporate 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.