Schonfeld Strategic Advisors LLC Lowers Stock Holdings in Loews Co. (NYSE:L)

Schonfeld Strategic Advisors LLC cut its stake in Loews Co. (NYSE:L - Free Report) by 84.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,727 shares of the insurance provider's stock after selling 20,517 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Loews were worth $316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in L. Barclays PLC grew its position in shares of Loews by 13.1% in the third quarter. Barclays PLC now owns 752,380 shares of the insurance provider's stock valued at $59,473,000 after purchasing an additional 87,259 shares in the last quarter. Principal Financial Group Inc. grew its position in Loews by 3.0% in the third quarter. Principal Financial Group Inc. now owns 248,665 shares of the insurance provider's stock worth $19,657,000 after acquiring an additional 7,149 shares during the period. Nordea Investment Management AB grew its position in Loews by 7.5% in the fourth quarter. Nordea Investment Management AB now owns 15,619 shares of the insurance provider's stock worth $1,323,000 after acquiring an additional 1,085 shares during the period. Czech National Bank grew its position in Loews by 5.6% in the fourth quarter. Czech National Bank now owns 39,192 shares of the insurance provider's stock worth $3,319,000 after acquiring an additional 2,077 shares during the period. Finally, Wedmont Private Capital grew its position in Loews by 5.2% in the fourth quarter. Wedmont Private Capital now owns 3,065 shares of the insurance provider's stock worth $249,000 after acquiring an additional 151 shares during the period. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Loews Trading Up 0.6%

Shares of L traded up $0.56 during midday trading on Friday, hitting $89.37. 692,951 shares of the stock were exchanged, compared to its average volume of 730,241. Loews Co. has a 52-week low of $73.15 and a 52-week high of $92.42. The stock has a fifty day simple moving average of $86.96 and a 200 day simple moving average of $85.22. The firm has a market cap of $18.74 billion, a P/E ratio of 13.96 and a beta of 0.70. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34.

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

Loews Announces Dividend

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

Insider Activity at Loews

In other news, Director Jonathan M. Tisch sold 47,636 shares of Loews stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the sale, the director now owns 6,705,529 shares in the company, valued at approximately $569,165,301.52. The trade was a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Richard Waldo Scott sold 9,019 shares of Loews stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $87.92, for a total value of $792,950.48. Following the sale, the senior vice president now owns 33,901 shares in the company, valued at $2,980,575.92. This trade represents a 21.01% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 156,655 shares of company stock worth $13,323,294. Company insiders own 19.00% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Loews from a "hold" rating to a "buy" rating in a research report 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.