Price T Rowe Associates Inc. MD Sells 164,484 Shares of Loews Co. (NYSE:L)

Price T Rowe Associates Inc. MD cut its holdings in Loews Co. (NYSE:L) by 3.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,994,021 shares of the insurance provider’s stock after selling 164,484 shares during the quarter. Price T Rowe Associates Inc. MD owned 2.26% of Loews worth $390,983,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Caprock Group LLC lifted its stake in shares of Loews by 17.7% during the 4th quarter. Caprock Group LLC now owns 17,450 shares of the insurance provider’s stock valued at $1,214,000 after buying an additional 2,623 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Loews by 1.3% in the 4th quarter. State of Alaska Department of Revenue now owns 113,103 shares of the insurance provider’s stock valued at $7,869,000 after acquiring an additional 1,420 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Loews by 4.9% during the 4th quarter. Fifth Third Bancorp now owns 8,338 shares of the insurance provider’s stock valued at $580,000 after purchasing an additional 388 shares during the last quarter. True North Advisors LLC purchased a new position in shares of Loews during the fourth quarter valued at about $214,000. Finally, Trust Point Inc. bought a new stake in shares of Loews in the fourth quarter worth about $507,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada raised shares of Loews to a “moderate buy” rating in a report on Friday.

Insider Buying and Selling at Loews

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 transaction of $3,862,000.00. Following the transaction, the insider now directly owns 507,799 shares of the company’s stock, valued at $39,222,394.76. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold 150,000 shares of company stock valued at $11,588,500 in the last quarter. 18.70% of the stock is owned by insiders.

Loews Trading Up 2.3 %

NYSE L traded up $1.78 on Friday, hitting $80.09. 649,510 shares of the stock were exchanged, compared to its average volume of 538,186. 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 52-week low of $61.29 and a 52-week high of $81.11. The firm has a market capitalization of $17.73 billion, a P/E ratio of 11.88 and a beta of 0.83. The stock has a fifty day moving average price of $75.92 and a two-hundred day moving average price of $75.32.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, May 6th. The insurance provider reported $2.05 EPS 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 Dividend Announcement

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