Trustmark National Bank Trust Department Makes New Investment in Loews Co. (NYSE:L)

Trustmark National Bank Trust Department purchased a new position in shares of Loews Co. (NYSE:L) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 14,693 shares of the insurance provider’s stock, valued at approximately $1,150,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Loews by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider’s stock valued at $1,656,376,000 after purchasing an additional 507,513 shares in the last quarter. Norges Bank bought a new position in shares of Loews during the fourth quarter valued at $511,159,000. Allspring Global Investments Holdings LLC grew its stake in shares of Loews by 1.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,259,802 shares of the insurance provider’s stock worth $255,210,000 after acquiring an additional 37,953 shares during the period. Northern Trust Corp boosted its stake in shares of Loews by 11.9% in the 4th quarter. Northern Trust Corp now owns 2,503,105 shares of the insurance provider’s stock worth $174,191,000 after buying an additional 266,729 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Loews by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,587,817 shares of the insurance provider’s stock valued at $110,496,000 after acquiring an additional 21,323 shares during the period. Institutional investors own 58.33% of the company’s stock.

Loews Stock Performance

Loews stock traded up $0.34 during midday trading on Tuesday, hitting $78.42. The stock had a trading volume of 128,958 shares, compared to its average volume of 737,128. The company has a market capitalization of $17.36 billion, a PE ratio of 11.58 and a beta of 0.84. Loews Co. has a 52-week low of $60.98 and a 52-week high of $81.11. The firm’s fifty day moving average is $75.81 and its two-hundred day moving average is $75.13. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50.

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

Loews Announces Dividend

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

Insider Activity at Loews

In other Loews 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 transaction of $3,869,500.00. Following the transaction, the insider now directly owns 607,799 shares of the company’s stock, valued at $47,037,564.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 150,000 shares of company stock valued at $11,588,500 in the last ninety days. Company insiders own 18.70% of the company’s stock.

Loews Company 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.