Loews Corporation (NYSE:L) Stock Holdings Cut by Wellington Shields & Co. LLC

Wellington Shields & Co. LLC lessened its position in Loews Corporation (NYSE:L) by 5.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,000 shares of the insurance provider’s stock after selling 290 shares during the period. Wellington Shields & Co. LLC’s holdings in Loews were worth $460,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in Loews by 10,114.9% during the first quarter. GAMMA Investing LLC now owns 672,138 shares of the insurance provider’s stock worth $61,776,000 after buying an additional 665,558 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Loews by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider’s stock worth $378,087,000 after acquiring an additional 210,594 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Loews by 17.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,423,409 shares of the insurance provider’s stock worth $120,549,000 after acquiring an additional 207,568 shares during the last quarter. First Trust Advisors LP raised its position in shares of Loews by 51.2% during the fourth quarter. First Trust Advisors LP now owns 531,038 shares of the insurance provider’s stock worth $44,974,000 after purchasing an additional 179,772 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Loews by 63.2% during the fourth quarter. BNP Paribas Financial Markets now owns 384,459 shares of the insurance provider’s stock valued at $32,560,000 after purchasing an additional 148,890 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

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

Loews Stock Up 0.8%

Shares of NYSE:L opened at $91.14 on Wednesday. The firm has a 50 day simple moving average of $89.97 and a 200 day simple moving average of $87.45. Loews Corporation has a 52 week low of $75.16 and a 52 week high of $93.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.33 and a current ratio of 0.33. The company has a market cap of $19.11 billion, a PE ratio of 14.96 and a beta of 0.70.

Loews (NYSE:L) last released its 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 return on equity of 7.43% and a net margin of 7.47%.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Wednesday, May 28th. 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.