Yousif Capital Management LLC Reduces Position in Loews Co. (NYSE:L)

Yousif Capital Management LLC lessened its holdings in shares of Loews Co. (NYSE:L) by 5.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,083 shares of the insurance provider’s stock after selling 2,224 shares during the quarter. Yousif Capital Management LLC’s holdings in Loews were worth $3,316,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in L. Bank of New York Mellon Corp lifted its position in shares of Loews by 6.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider’s stock valued at $109,067,000 after buying an additional 77,386 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Loews during the 4th quarter valued at approximately $440,000. Y Intercept Hong Kong Ltd purchased a new position in Loews during the 4th quarter valued at $425,000. Steward Partners Investment Advisory LLC boosted its holdings in Loews by 13.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,433 shares of the insurance provider’s stock valued at $206,000 after acquiring an additional 288 shares during the period. Finally, Novem Group purchased a new stake in shares of Loews in the 4th quarter worth $678,000. Institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling at Loews

In related news, SVP Richard Waldo Scott sold 9,019 shares of the firm’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $87.92, for a total transaction of $792,950.48. Following the sale, the senior vice president now directly owns 33,901 shares of the company’s stock, valued at $2,980,575.92. This trade represents a 21.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 18.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Loews from a “hold” rating to a “buy” rating in a report on Tuesday, May 6th.

Loews Price Performance

Shares of L stock opened at $88.57 on Friday. 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 stock has a market capitalization of $18.57 billion, a price-to-earnings ratio of 13.84 and a beta of 0.71. Loews Co. has a twelve month low of $73.15 and a twelve month high of $92.42. The stock has a fifty day simple moving average of $87.29 and a two-hundred day simple moving average of $86.03.

Loews (NYSE:L) last issued its quarterly earnings data on Monday, May 5th. The insurance provider reported $1.74 earnings per share for the quarter. The firm had revenue of $4.49 billion during the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Wednesday, May 28th. Loews’s dividend payout ratio (DPR) is presently 4.11%.

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.