Everence Capital Management Inc. Trims Stock Holdings in Loews Co. (NYSE:L)

Everence Capital Management Inc. decreased its holdings in Loews Co. (NYSE:L) by 78.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,440 shares of the insurance provider’s stock after selling 19,740 shares during the period. Everence Capital Management Inc.’s holdings in Loews were worth $379,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Desjardins Global Asset Management Inc. lifted 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 valued at $34,000 after purchasing an additional 340 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Loews by 41.5% in the 4th quarter. Mackenzie Financial Corp now owns 25,420 shares of the insurance provider’s stock worth $1,769,000 after acquiring an additional 7,459 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Loews by 7.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 495,242 shares of the insurance provider’s stock worth $34,464,000 after acquiring an additional 33,743 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of Loews in the 4th quarter worth approximately $403,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Loews in the 4th quarter worth approximately $772,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Trading Up 1.0 %

Shares of L opened at $73.84 on Friday. The firm has a market cap of $16.41 billion, a price-to-earnings ratio of 11.72 and a beta of 0.83. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.32 and a current ratio of 0.32. Loews Co. has a fifty-two week low of $55.31 and a fifty-two week high of $78.55. The firm has a 50 day moving average price of $75.42 and a 200-day moving average price of $70.70.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, February 5th. The insurance provider reported $1.99 earnings per share for the quarter. The firm had revenue of $4.26 billion during the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Wednesday, February 21st were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Tuesday, February 20th. Loews’s payout ratio is 3.97%.

Insider Buying and Selling

In related news, insider Jonathan M. Tisch sold 4,287 shares of Loews stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $71.91, for a total value of $308,278.17. Following the transaction, the insider now directly owns 106,870 shares of the company’s stock, valued at $7,685,021.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Jonathan M. Tisch sold 4,287 shares of Loews stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $71.91, for a total value of $308,278.17. Following the transaction, the insider now directly owns 106,870 shares of the company’s stock, valued at $7,685,021.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrew H. Tisch sold 125,000 shares of Loews stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $73.04, for a total transaction of $9,130,000.00. Following the completion of the transaction, the director now directly owns 945,886 shares in the company, valued at $69,087,513.44. The disclosure for this sale can be found here. Insiders have sold a total of 137,563 shares of company stock valued at $10,052,551 over the last three months. 18.70% of the stock is owned by company 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.