Everence Capital Management Inc. Sells 19,740 Shares of Loews Co. (NYSE:L)

Everence Capital Management Inc. lessened its position in Loews Co. (NYSE:L - Free Report) by 78.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,440 shares of the insurance provider's stock after selling 19,740 shares during the period. Everence Capital Management Inc.'s holdings in Loews were worth $379,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp grew its position in shares of Loews by 1.1% in the 2nd quarter. State Street Corp now owns 8,427,667 shares of the insurance provider's stock valued at $500,435,000 after acquiring an additional 88,821 shares during the period. Norges Bank bought a new position in shares of Loews in the 4th quarter valued at about $420,569,000. Geode Capital Management LLC lifted its stake in shares of Loews by 1.3% during the 1st quarter. Geode Capital Management LLC now owns 4,064,740 shares of the insurance provider's stock worth $235,292,000 after buying an additional 51,482 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Loews by 0.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,255,282 shares of the insurance provider's stock worth $206,092,000 after buying an additional 20,277 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Loews by 6.3% during the 3rd quarter. Northern Trust Corp now owns 2,236,376 shares of the insurance provider's stock worth $141,585,000 after buying an additional 131,736 shares during the last quarter. Institutional investors own 58.33% of the company's stock.

Loews Stock Performance

Shares of NYSE L traded up $1.80 during mid-day trading on Friday, reaching $75.64. 751,208 shares of the company were exchanged, compared to its average volume of 762,556. The company's 50-day simple moving average is $75.48 and its 200-day simple moving average is $70.79. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $16.81 billion, a P/E ratio of 12.01 and a beta of 0.83. Loews Co. has a twelve month low of $55.31 and a twelve month high of $78.55.

Loews (NYSE:L - Get Free Report) last posted its earnings results on Monday, February 5th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter. The company had revenue of $4.26 billion during the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Wednesday, February 21st were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date was Tuesday, February 20th. Loews's dividend payout ratio is presently 3.97%.

Insider Transactions at Loews

In other Loews news, Director Paul J. Fribourg sold 951 shares of Loews stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $75.02, for a total value of $71,344.02. Following the completion of the sale, the director now owns 21,200 shares in the company, valued at approximately $1,590,424. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Loews news, Director Paul J. Fribourg sold 951 shares of Loews stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $75.02, for a total value of $71,344.02. Following the completion of the sale, the director now owns 21,200 shares in the company, valued at approximately $1,590,424. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard Waldo Scott sold 7,325 shares of Loews stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $74.12, for a total transaction of $542,929.00. Following the completion of the sale, the senior vice president now owns 51,965 shares of the company's stock, valued at approximately $3,851,645.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,563 shares of company stock worth $10,052,551. 18.70% of the stock is owned by insiders.

Loews Company 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.