Loews Corporation (NYSE:L) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Loews Corporation (NYSE:L - Free Report) by 1.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Minot DeBlois Advisors LLC purchased a new position in shares of Loews in the 4th quarter worth $27,000. Itau Unibanco Holding S.A. lifted its stake in shares of Loews by 387.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider's stock valued at $37,000 after purchasing an additional 345 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Loews during the 1st quarter worth about $40,000. UMB Bank n.a. increased its position in Loews by 80.1% during the 1st quarter. UMB Bank n.a. now owns 470 shares of the insurance provider's stock worth $43,000 after purchasing an additional 209 shares in the last quarter. Finally, Graney & King LLC purchased a new position in Loews in the fourth quarter valued at approximately $56,000. Hedge funds and other institutional investors own 58.33% of the company's stock.

Loews Stock Up 1.0%

NYSE L traded up $0.90 on Thursday, reaching $92.24. The company had a trading volume of 110,953 shares, compared to its average volume of 732,633. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.33 and a quick ratio of 0.33. Loews Corporation has a 1 year low of $73.15 and a 1 year high of $92.55. The firm has a 50-day moving average of $88.52 and a 200-day moving average of $86.41. The firm has a market capitalization of $19.34 billion, a PE ratio of 15.12 and a beta of 0.70.

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 business had revenue of $4.49 billion during the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were given a $0.0625 dividend. 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 payout ratio is 4.11%.

Analyst Ratings Changes

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

Insider Activity at Loews

In related news, SVP Richard Waldo Scott sold 9,019 shares of the company'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 directly owned 33,901 shares of the company's stock, valued at $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 SEC, which is accessible through this link. Company insiders own 19.00% of the company's stock.

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.