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

QRG Capital Management Inc. trimmed its position in Loews Co. (NYSE:L) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 112,247 shares of the insurance provider’s stock after selling 4,805 shares during the period. QRG Capital Management Inc.’s holdings in Loews were worth $9,506,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Transactions at Loews

In other news, Director Jonathan M. Tisch sold 50,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 7,105,529 shares in the company, valued at $604,538,407.32. This represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew H. Tisch sold 7,533 shares of Loews stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $84.35, for a total value of $635,408.55. Following the transaction, the director now owns 1,568,191 shares of the company’s stock, valued at approximately $132,276,910.85. This represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 62,370 shares of company stock worth $5,309,627 over the last 90 days. 18.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Loews Stock Performance

Shares of L opened at $85.84 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a 50-day moving average of $84.53 and a two-hundred day moving average of $82.34. The stock has a market cap of $18.27 billion, a P/E ratio of 13.41 and a beta of 0.83. Loews Co. has a one year low of $72.91 and a one year high of $88.29.

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

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Wednesday, February 26th. Loews’s dividend payout ratio (DPR) is currently 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.