Mariner LLC Cuts Stake in Loews Co. (NYSE:L)

Mariner LLC lowered its position in Loews Co. (NYSE:L - Free Report) by 22.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,106 shares of the insurance provider's stock after selling 9,413 shares during the period. Mariner LLC's holdings in Loews were worth $2,719,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Townsquare Capital LLC acquired a new stake in shares of Loews in the 4th quarter worth approximately $671,000. Sterling Capital Management LLC grew its holdings in Loews by 53.7% during the 4th quarter. Sterling Capital Management LLC now owns 10,614 shares of the insurance provider's stock valued at $899,000 after buying an additional 3,708 shares during the last quarter. Covestor Ltd grew its holdings in Loews by 29.3% during the 4th quarter. Covestor Ltd now owns 1,395 shares of the insurance provider's stock valued at $118,000 after buying an additional 316 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in Loews by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 78,744 shares of the insurance provider's stock valued at $6,669,000 after buying an additional 490 shares during the last quarter. Finally, Capital Fund Management S.A. grew its holdings in Loews by 55.3% during the 4th quarter. Capital Fund Management S.A. now owns 37,099 shares of the insurance provider's stock valued at $3,142,000 after buying an additional 13,216 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company's stock.

Loews Price Performance

NYSE:L traded up $0.68 during trading hours on Monday, reaching $85.95. 441,529 shares of the company traded hands, compared to its average volume of 732,400. The firm's 50-day moving average is $86.17 and its 200-day moving average is $84.59. The stock has a market cap of $18.08 billion, a P/E ratio of 13.43 and a beta of 0.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. 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 posted its quarterly earnings data on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews's dividend payout ratio (DPR) is 3.91%.

Insider Transactions at Loews

In related news, Director Jonathan M. Tisch sold 3,691 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jonathan M. Tisch sold 50,000 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $85.08, for a total value of $4,254,000.00. Following the completion of the transaction, the director now directly owns 7,105,529 shares in the company, valued at $604,538,407.32. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 151,327 shares of company stock worth $12,851,055 over the last quarter. 18.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Loews from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th.

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.