Loews Co. (NYSE:L) Shares Sold by Mendota Financial Group LLC

Mendota Financial Group LLC trimmed its stake in shares of Loews Co. (NYSE:L) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,803 shares of the insurance provider’s stock after selling 1,129 shares during the period. Loews comprises about 3.9% of Mendota Financial Group LLC’s holdings, making the stock its 11th biggest holding. Mendota Financial Group LLC’s holdings in Loews were worth $8,206,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Able Wealth Management LLC purchased a new position in Loews during the 4th quarter worth approximately $48,000. Wellington Management Group LLP boosted its position in Loews by 0.7% during the 4th quarter. Wellington Management Group LLP now owns 20,526 shares of the insurance provider’s stock worth $1,428,000 after acquiring an additional 145 shares during the period. PNC Financial Services Group Inc. grew its stake in Loews by 11.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 25,066 shares of the insurance provider’s stock valued at $1,744,000 after acquiring an additional 2,625 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Loews in the 4th quarter valued at about $258,000. Finally, Kapitalo Investimentos Ltda lifted its position in shares of Loews by 210.8% in the fourth quarter. Kapitalo Investimentos Ltda now owns 3,898 shares of the insurance provider’s stock worth $271,000 after purchasing an additional 2,644 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on L shares. Jefferies Financial Group lowered their price objective on shares of Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Royal Bank of Canada upgraded shares of Loews to a “moderate buy” rating in a report on Friday, July 26th.

Insider Buying and Selling

In other Loews news, Director Ann E. Berman sold 1,087 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total value of $88,460.06. Following the completion of the sale, the director now owns 4,998 shares of the company’s stock, valued at $406,737.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Jonathan M. Tisch sold 62,500 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $80.84, for a total transaction of $5,052,500.00. Following the completion of the sale, the insider now directly owns 6,781,634 shares of the company’s stock, valued at approximately $548,227,292.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann E. Berman sold 1,087 shares of Loews stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total transaction of $88,460.06. Following the completion of the transaction, the director now owns 4,998 shares in the company, valued at $406,737.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 91,215 shares of company stock worth $7,399,013. Corporate insiders own 18.70% of the company’s stock.

Loews Stock Performance

Shares of L stock opened at $79.35 on Friday. The firm has a market cap of $17.57 billion, a P/E ratio of 11.77 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. Loews Co. has a fifty-two week low of $62.18 and a fifty-two week high of $83.54. The stock’s 50-day moving average is $78.96 and its two-hundred day moving average is $77.21.

Loews (NYSE:L) last released its quarterly earnings data on Monday, July 29th. The insurance provider reported $1.67 EPS for the quarter. The firm had revenue of $4.27 billion for the quarter. Loews had a return on equity of 9.26% and a net margin of 9.14%.

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Wednesday, August 21st were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.32%. The ex-dividend date was Wednesday, August 21st. Loews’s payout ratio is presently 3.71%.

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.