American International Group Inc. Lowers Stock Position in Loews Co. (NYSE:L)

American International Group Inc. decreased its holdings in shares of Loews Co. (NYSE:L) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,005 shares of the insurance provider’s stock after selling 924 shares during the period. American International Group Inc.’s holdings in Loews were worth $3,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new position in shares of Loews during the 4th quarter valued at approximately $26,000. Northwest Financial Advisors acquired a new stake in Loews during the 4th quarter worth $28,000. Operose Advisors LLC acquired a new stake in Loews during the 3rd quarter worth $30,000. Desjardins Global Asset Management Inc. boosted its stake in Loews by 225.2% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 340 shares during the last quarter. Finally, Principal Securities Inc. acquired a new stake in Loews during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Insider Transactions at Loews

In other news, insider Jonathan M. Tisch sold 50,000 shares of Loews stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $77.14, for a total transaction of $3,857,000.00. Following the transaction, the insider now owns 457,799 shares in the company, valued at approximately $35,314,614.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 150,000 shares of company stock worth $11,588,500 in the last quarter. Company insiders own 18.70% of the company’s stock.

Loews Trading Up 1.0 %

Shares of L opened at $77.33 on Tuesday. Loews Co. has a 52-week low of $57.74 and a 52-week high of $78.55. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. The firm’s fifty day moving average is $75.83 and its two-hundred day moving average is $74.16. The stock has a market cap of $17.12 billion, a PE ratio of 11.47 and a beta of 0.85.

Loews (NYSE:L) last announced its earnings results on Monday, May 6th. The insurance provider reported $2.05 earnings per share (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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.25 annualized dividend and a dividend yield of 0.32%. Loews’s dividend payout ratio is presently 3.71%.

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.