Mutual of America Capital Management LLC Has $1.89 Million Holdings in Loews Corporation (NYSE:L)

Mutual of America Capital Management LLC lessened its holdings in Loews Corporation (NYSE:L) by 5.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,546 shares of the insurance provider’s stock after selling 1,108 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Loews were worth $1,888,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Loews in the 4th quarter valued at approximately $623,493,000. GAMMA Investing LLC raised its position in shares of Loews by 10,114.9% in the 1st quarter. GAMMA Investing LLC now owns 672,138 shares of the insurance provider’s stock valued at $61,776,000 after acquiring an additional 665,558 shares during the period. Geode Capital Management LLC raised its position in shares of Loews by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider’s stock valued at $378,087,000 after acquiring an additional 210,594 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Loews by 17.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,423,409 shares of the insurance provider’s stock valued at $120,549,000 after acquiring an additional 207,568 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Loews by 51.2% in the 4th quarter. First Trust Advisors LP now owns 531,038 shares of the insurance provider’s stock valued at $44,974,000 after acquiring an additional 179,772 shares during the period. Institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling at Loews

In other Loews news, SVP Richard Waldo Scott sold 9,019 shares of the firm’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $87.92, for a total value of $792,950.48. Following the completion of the transaction, the senior vice president owned 33,901 shares in the company, valued at $2,980,575.92. This trade represents a 21.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 19.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Loews from a “hold” rating to a “buy” rating in a report on Tuesday, May 6th.

Loews Stock Performance

Shares of L stock opened at $92.30 on Friday. The business’s 50 day simple moving average is $89.60 and its 200 day simple moving average is $87.05. Loews Corporation has a one year low of $75.16 and a one year high of $93.23. The stock has a market capitalization of $19.36 billion, a PE ratio of 15.16 and a beta of 0.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.33 and a quick ratio of 0.33.

Loews (NYSE:L) last issued its earnings results on Monday, May 5th. The insurance provider reported $1.74 earnings per share for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%. The company had revenue of $4.49 billion for the quarter.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.25 dividend on an annualized basis and a yield of 0.27%. Loews’s dividend payout ratio (DPR) is presently 4.11%.

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.