Ascent Group LLC Has $329,000 Stock Holdings in Loews Co. (NYSE:L)

Ascent Group LLC lessened its holdings in Loews Co. (NYSE:L) by 26.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,203 shares of the insurance provider’s stock after selling 1,534 shares during the period. Ascent Group LLC’s holdings in Loews were worth $329,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Altshuler Shaham Ltd bought a new stake in Loews during the fourth quarter worth about $26,000. Northwest Financial Advisors bought a new stake in Loews during the fourth quarter worth about $28,000. Desjardins Global Asset Management Inc. grew its stake in Loews by 225.2% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance provider’s stock worth $34,000 after buying an additional 340 shares during the last quarter. Principal Securities Inc. bought a new stake in Loews during the fourth quarter worth about $38,000. Finally, Lindbrook Capital LLC grew its stake in Loews by 41.4% during the fourth quarter. Lindbrook Capital LLC now owns 611 shares of the insurance provider’s stock worth $43,000 after buying an additional 179 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jonathan M. Tisch sold 50,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $77.14, for a total transaction of $3,857,000.00. Following the sale, the insider now directly owns 457,799 shares in the company, valued at $35,314,614.86. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 150,000 shares of company stock worth $11,588,500. Company insiders own 18.70% of the company’s stock.

Loews Trading Down 1.5 %

L stock traded down $1.23 during midday trading on Monday, reaching $78.86. The company’s stock had a trading volume of 941,422 shares, compared to its average volume of 736,958. Loews Co. has a 52 week low of $61.29 and a 52 week high of $83.54. The stock has a market cap of $17.46 billion, a PE ratio of 11.70 and a beta of 0.84. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. The business’s 50-day simple moving average is $75.98 and its 200-day simple moving average is $75.40.

Loews (NYSE:L) last posted its earnings results on Monday, May 6th. The insurance provider reported $2.05 earnings per share for the quarter. The company had revenue of $4.23 billion for the quarter. Loews had a net margin of 9.27% and a return on equity of 9.45%.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th were issued a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.25 annualized dividend and a yield of 0.32%. Loews’s dividend payout ratio (DPR) is presently 3.71%.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada raised shares of Loews to a “moderate buy” rating in a research note on Friday.

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.