Ascent Group LLC Sells 1,534 Shares of Loews Co. (NYSE:L)

Ascent Group LLC trimmed its stake in Loews Co. (NYSE:L) by 26.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in Loews by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,587,817 shares of the insurance provider’s stock valued at $110,496,000 after acquiring an additional 21,323 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Loews by 12.8% during the fourth quarter. Principal Financial Group Inc. now owns 242,163 shares of the insurance provider’s stock valued at $16,852,000 after purchasing an additional 27,498 shares during the period. Ontario Teachers Pension Plan Board boosted its stake in shares of Loews by 70.5% during 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 purchasing 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 fourth quarter. The Manufacturers Life Insurance Company now owns 297,181 shares of the insurance provider’s stock valued at $20,681,000 after purchasing an additional 10,473 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Loews by 5.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 174,867 shares of the insurance provider’s stock valued at $13,690,000 after purchasing an additional 8,527 shares during the period. 58.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Loews

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

Analyst Ratings Changes

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

Loews Stock Performance

Shares of L stock traded down $1.23 during trading hours on Monday, reaching $78.86. 941,422 shares of the company traded hands, compared to its average volume of 736,958. Loews Co. has a 12-month low of $61.29 and a 12-month high of $83.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The company has a market cap of $17.46 billion, a P/E ratio of 11.70 and a beta of 0.84. The firm has a 50-day moving average price of $75.98 and a 200 day moving average price of $75.40.

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

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.32%. The ex-dividend date was Wednesday, May 29th. Loews’s dividend payout ratio is currently 3.71%.

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.