Price T Rowe Associates Inc. MD Sells 164,484 Shares of Loews Co. (NYSE:L)

Price T Rowe Associates Inc. MD decreased its holdings in Loews Co. (NYSE:L) by 3.2% in the first quarter, HoldingsChannel.com reports. The fund owned 4,994,021 shares of the insurance provider’s stock after selling 164,484 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Loews were worth $390,983,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Loews by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,587,817 shares of the insurance provider’s stock worth $110,496,000 after buying an additional 21,323 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Loews by 12.8% in the fourth quarter. Principal Financial Group Inc. now owns 242,163 shares of the insurance provider’s stock valued at $16,852,000 after acquiring an additional 27,498 shares during the period. Ontario Teachers Pension Plan Board raised its stake in shares of Loews by 70.5% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 14,753 shares of the insurance provider’s stock valued at $1,027,000 after acquiring an additional 6,101 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Loews by 3.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 297,181 shares of the insurance provider’s stock worth $20,681,000 after purchasing an additional 10,473 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Loews by 5.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 174,867 shares of the insurance provider’s stock valued at $13,690,000 after acquiring an additional 8,527 shares during the period. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Stock Up 2.3 %

Shares of NYSE:L traded up $1.78 on Friday, reaching $80.09. The company had a trading volume of 649,510 shares, compared to its average volume of 538,186. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $17.73 billion, a PE ratio of 11.88 and a beta of 0.83. Loews Co. has a 52-week low of $61.29 and a 52-week high of $81.11. The firm’s 50 day simple moving average is $75.92 and its 200-day simple moving average is $75.32.

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

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date was Wednesday, May 29th. Loews’s dividend payout ratio (DPR) is presently 3.71%.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada upgraded Loews to a “moderate buy” rating in a report on Friday.

Insider Activity

In other Loews news, insider Jonathan M. Tisch sold 50,000 shares of Loews stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $77.24, for a total value of $3,862,000.00. Following the completion of the transaction, the insider now owns 507,799 shares of the company’s stock, valued at $39,222,394.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 150,000 shares of company stock valued at $11,588,500 over the last ninety days. 18.70% of the stock is currently owned by insiders.

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.