ProShare Advisors LLC Has $4.13 Million Stake in Loews Co. (NYSE:L)

ProShare Advisors LLC reduced its position in shares of Loews Co. (NYSE:L) by 4.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,698 shares of the insurance provider’s stock after selling 2,632 shares during the period. ProShare Advisors LLC’s holdings in Loews were worth $4,126,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new position in shares of Loews during the 4th quarter worth approximately $26,000. Northwest Financial Advisors bought a new stake in shares of Loews in the fourth quarter valued at approximately $28,000. Desjardins Global Asset Management Inc. grew its position in Loews by 225.2% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance provider’s stock worth $34,000 after buying an additional 340 shares in the last quarter. Principal Securities Inc. bought a new position in Loews during the 4th quarter worth $38,000. Finally, Lindbrook Capital LLC raised its holdings in Loews by 41.4% in the 4th quarter. Lindbrook Capital LLC now owns 611 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 179 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors.

Loews Stock Performance

NYSE:L opened at $79.80 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. Loews Co. has a fifty-two week low of $60.25 and a fifty-two week high of $81.11. The company has a market cap of $17.67 billion, a price-to-earnings ratio of 11.84 and a beta of 0.83. The stock has a fifty day moving average price of $75.79 and a 200-day moving average price of $74.96.

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

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th were issued a dividend of $0.0625 per share. The ex-dividend date was Wednesday, May 29th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.31%. Loews’s dividend payout ratio (DPR) is currently 3.71%.

Insider Buying and Selling

In other news, insider Jonathan M. Tisch sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $77.24, for a total value of $3,862,000.00. Following the sale, the insider now directly owns 507,799 shares in the company, valued at approximately $39,222,394.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 150,000 shares of company stock worth $11,588,500 in the last ninety days. 18.70% of the stock is 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.