Loews Co. (NYSE:L) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its holdings in Loews Co. (NYSE:L) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,512 shares of the insurance provider’s stock after selling 1,377 shares during the period. Mutual of America Capital Management LLC’s holdings in Loews were worth $1,706,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of L. Optas LLC boosted its stake in Loews by 4.2% in the fourth quarter. Optas LLC now owns 7,935 shares of the insurance provider’s stock valued at $552,000 after acquiring an additional 320 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in Loews during the 4th quarter worth approximately $397,000. Turtle Creek Wealth Advisors LLC purchased a new position in Loews during the 4th quarter worth approximately $195,000. International Assets Investment Management LLC acquired a new position in Loews during the fourth quarter worth approximately $3,695,000. Finally, Nisa Investment Advisors LLC lifted its stake in Loews by 38.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 145,794 shares of the insurance provider’s stock valued at $10,146,000 after buying an additional 40,517 shares during the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Stock Performance

Shares of L opened at $75.64 on Monday. The firm has a market cap of $16.81 billion, a PE ratio of 12.01 and a beta of 0.83. The company’s 50 day simple moving average is $75.48 and its 200-day simple moving average is $70.91. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.48. Loews Co. has a 12-month low of $55.31 and a 12-month high of $78.55.

Loews (NYSE:L) last announced its earnings results on Monday, February 5th. The insurance provider reported $1.99 EPS for the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%. The business had revenue of $4.26 billion during the quarter.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Wednesday, February 21st were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date was Tuesday, February 20th. Loews’s payout ratio is currently 3.97%.

Insider Transactions at Loews

In other news, SVP Richard Waldo Scott sold 7,325 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $74.12, for a total value of $542,929.00. Following the completion of the sale, the senior vice president now owns 51,965 shares in the company, valued at approximately $3,851,645.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jonathan M. Tisch sold 4,287 shares of Loews stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $71.91, for a total value of $308,278.17. Following the sale, the insider now directly owns 106,870 shares in the company, valued at $7,685,021.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Richard Waldo Scott sold 7,325 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $74.12, for a total value of $542,929.00. Following the completion of the transaction, the senior vice president now owns 51,965 shares of the company’s stock, valued at approximately $3,851,645.80. The disclosure for this sale can be found here. Insiders sold 137,563 shares of company stock worth $10,052,551 over the last 90 days. 18.70% of the stock is currently owned by insiders.

About Loews

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.