Centiva Capital LP Sells 7,186 Shares of Loews Co. (NYSE:L)

Centiva Capital LP decreased its stake in Loews Co. (NYSE:L) by 64.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,885 shares of the insurance provider’s stock after selling 7,186 shares during the period. Centiva Capital LP’s holdings in Loews were worth $329,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in L. Miracle Mile Advisors LLC purchased a new stake in Loews during the 4th quarter valued at $315,000. Nordea Investment Management AB boosted its position in Loews by 7.5% during the 4th quarter. Nordea Investment Management AB now owns 15,619 shares of the insurance provider’s stock valued at $1,323,000 after buying an additional 1,085 shares during the period. Bank of New York Mellon Corp boosted its position in 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 during the period. Fidelis Capital Partners LLC purchased a new stake in Loews during the 4th quarter valued at $440,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Loews during the 4th quarter valued at $425,000. Institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling at Loews

In other news, SVP Richard Waldo Scott sold 9,019 shares of Loews stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $87.92, for a total value of $792,950.48. Following the completion of the sale, the senior vice president now directly owns 33,901 shares in the company, valued at $2,980,575.92. The trade was a 21.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jonathan M. Tisch sold 50,000 shares of Loews stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $84.66, for a total transaction of $4,233,000.00. Following the completion of the sale, the director now owns 6,755,529 shares of the company’s stock, valued at $571,923,085.14. This represents a 0.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 156,655 shares of company stock worth $13,323,294. 19.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Loews from a “hold” rating to a “buy” rating in a research report on Tuesday, May 6th.

Loews Stock Up 0.5%

Shares of Loews stock opened at $88.38 on Monday. 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 50-day moving average of $86.60 and a 200 day moving average of $84.99. The firm has a market cap of $18.53 billion, a price-to-earnings ratio of 13.81 and a beta of 0.70. Loews Co. has a 1 year low of $73.15 and a 1 year high of $92.42.

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

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a yield of 0.28%. Loews’s dividend payout ratio is currently 4.11%.

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.