Mount Lucas Management LP Cuts Stock Holdings in Loews Co. (NYSE:L)

Mount Lucas Management LP lowered its stake in Loews Co. (NYSE:L) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,506 shares of the insurance provider’s stock after selling 2,373 shares during the period. Loews makes up approximately 1.2% of Mount Lucas Management LP’s holdings, making the stock its 11th largest holding. Mount Lucas Management LP’s holdings in Loews were worth $3,515,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC bought a new position in shares of Loews during the fourth quarter valued at approximately $26,000. Brooklyn Investment Group purchased a new position in shares of Loews during the 3rd quarter worth approximately $40,000. Wilmington Savings Fund Society FSB bought a new position in shares of Loews in the 3rd quarter worth approximately $49,000. Human Investing LLC purchased a new position in shares of Loews in the 4th quarter valued at approximately $51,000. Finally, Assetmark Inc. boosted its position in shares of Loews by 117.2% during the fourth quarter. Assetmark Inc. now owns 832 shares of the insurance provider’s stock valued at $70,000 after purchasing an additional 449 shares in the last quarter. Institutional investors own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Director Jonathan M. Tisch sold 50,000 shares of Loews 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 sale, the director now owns 7,105,529 shares of the company’s stock, valued at $604,538,407.32. The trade was a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jonathan M. Tisch sold 3,691 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. Insiders sold a total of 61,224 shares of company stock worth $5,210,120 in the last three months. Insiders own 18.70% of the company’s stock.

Loews Trading Up 0.5 %

Loews stock opened at $85.35 on Monday. Loews Co. has a 12 month low of $72.91 and a 12 month high of $88.29. The company has a market capitalization of $18.17 billion, a price-to-earnings ratio of 13.34 and a beta of 0.80. The business’s fifty day simple moving average is $84.70 and its two-hundred day simple moving average is $82.71. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th will be given 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 is Wednesday, February 26th. Loews’s dividend payout ratio (DPR) is currently 3.91%.

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.