Loews Co. (NYSE:L) Shares Sold by Williams Jones Wealth Management LLC.

Williams Jones Wealth Management LLC. trimmed its position in Loews Co. (NYSE:L) by 16.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,779 shares of the insurance provider’s stock after selling 974 shares during the quarter. Williams Jones Wealth Management LLC.’s holdings in Loews were worth $374,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in L. Charles Schwab Investment Management Inc. lifted its stake in Loews by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,587,817 shares of the insurance provider’s stock worth $110,496,000 after acquiring an additional 21,323 shares in the last quarter. Principal Financial Group Inc. raised its position in Loews by 12.8% in the 4th 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 in the last quarter. Ontario Teachers Pension Plan Board boosted its stake in shares of Loews by 70.5% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 14,753 shares of the insurance provider’s stock valued at $1,027,000 after buying an additional 6,101 shares during the period. The Manufacturers Life Insurance Company grew its position 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 worth $20,681,000 after buying an additional 10,473 shares in the last quarter. Finally, SteelPeak Wealth LLC purchased a new stake in shares of Loews during the fourth quarter worth approximately $1,909,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Stock Up 1.3 %

Loews stock traded up $0.98 during trading on Wednesday, reaching $79.33. The stock had a trading volume of 16,061 shares, compared to its average volume of 744,474. Loews Co. has a 52-week low of $59.91 and a 52-week high of $79.36. The business has a 50 day moving average price of $75.70 and a 200 day moving average price of $74.89. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. The stock has a market cap of $17.56 billion, a PE ratio of 11.62 and a beta of 0.83.

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

Loews Dividend Announcement

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

Insider Activity at Loews

In related news, insider Jonathan M. Tisch sold 50,000 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $77.39, for a total value of $3,869,500.00. Following the transaction, the insider now directly owns 607,799 shares of the company’s stock, valued at approximately $47,037,564.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 150,000 shares of company stock valued at $11,588,500 over the last three months. 18.70% of the stock is owned by corporate 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.