Sumitomo Mitsui Trust Group Inc. Reduces Stock Position in Loews Corporation (NYSE:L)

Sumitomo Mitsui Trust Group Inc. cut its holdings in Loews Corporation (NYSE:L - Free Report) by 1.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 506,257 shares of the insurance provider's stock after selling 5,034 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Loews worth $46,530,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in L. Novem Group acquired a new position in Loews during the fourth quarter worth $678,000. SG Americas Securities LLC lifted its stake in Loews by 589.9% during the first quarter. SG Americas Securities LLC now owns 10,162 shares of the insurance provider's stock worth $934,000 after purchasing an additional 8,689 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in Loews during the fourth quarter worth $440,000. Steward Partners Investment Advisory LLC lifted its stake in Loews by 13.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,433 shares of the insurance provider's stock worth $206,000 after purchasing an additional 288 shares in the last quarter. Finally, Prudential Financial Inc. lifted its stake in Loews by 14.8% during the fourth quarter. Prudential Financial Inc. now owns 162,256 shares of the insurance provider's stock worth $13,741,000 after purchasing an additional 20,874 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Loews

In other news, SVP Richard Waldo Scott sold 9,019 shares of the company'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 owned 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 19.00% of the company's stock.

Loews Trading Up 1.1%

NYSE:L traded up $1.05 during trading hours on Friday, reaching $92.39. 500,770 shares of the stock were exchanged, compared to its average volume of 733,268. Loews Corporation has a twelve month low of $73.85 and a twelve month high of $92.60. The business has a 50-day moving average of $88.78 and a two-hundred day moving average of $86.53. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $19.37 billion, a price-to-earnings ratio of 15.17 and a beta of 0.70.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The insurance provider reported $1.74 earnings per share for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%. The business had revenue of $4.49 billion for the quarter.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Wednesday, May 28th. Loews's dividend payout ratio is currently 4.11%.

Wall Street Analysts Forecast Growth

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

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.