QRG Capital Management Inc. Decreases Stock Holdings in Loews Co. (NYSE:L)

QRG Capital Management Inc. cut its holdings in Loews Co. (NYSE:L) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 112,247 shares of the insurance provider’s stock after selling 4,805 shares during the quarter. QRG Capital Management Inc. owned 0.05% of Loews worth $9,506,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of L. State Street Corp raised its position in Loews by 1.0% during the third quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock valued at $638,506,000 after purchasing an additional 82,581 shares during the period. Geode Capital Management LLC raised its holdings in Loews by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider’s stock valued at $336,005,000 after buying an additional 53,428 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Loews by 0.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider’s stock valued at $268,640,000 after buying an additional 8,750 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Loews by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock worth $127,409,000 after buying an additional 8,615 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Loews by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider’s stock worth $109,067,000 after buying an additional 77,386 shares during the period. Institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling at Loews

In other Loews news, Director Jonathan M. Tisch sold 50,000 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $85.08, for a total value of $4,254,000.00. Following the completion of the sale, the director now directly owns 7,105,529 shares in the company, valued at approximately $604,538,407.32. This represents a 0.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles M. Diker sold 1,146 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total value of $99,507.18. Following the transaction, the director now owns 19,906 shares in the company, valued at approximately $1,728,437.98. This represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,370 shares of company stock valued at $5,309,627 in the last three months. Company insiders own 18.70% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Loews from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

Loews Stock Up 1.9 %

Shares of NYSE:L opened at $85.84 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The business has a 50 day simple moving average of $84.53 and a two-hundred day simple moving average of $82.34. Loews Co. has a 1 year low of $72.91 and a 1 year high of $88.29. The firm has a market capitalization of $18.27 billion, a PE ratio of 13.41 and a beta of 0.83.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th will be issued a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a yield of 0.29%. Loews’s payout ratio is 3.91%.

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.