Mutual of America Capital Management LLC Cuts Stake in Loews Co. (NYSE:L)

Mutual of America Capital Management LLC reduced its holdings in Loews Co. (NYSE:L) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,436 shares of the insurance provider’s stock after selling 460 shares during the period. Mutual of America Capital Management LLC’s holdings in Loews were worth $1,774,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swedbank AB acquired a new position in shares of Loews during the 1st quarter worth about $23,646,000. TD Asset Management Inc boosted its position in Loews by 77.9% during the second quarter. TD Asset Management Inc now owns 525,920 shares of the insurance provider’s stock worth $39,307,000 after purchasing an additional 230,231 shares in the last quarter. Bank of Montreal Can grew its holdings in Loews by 106.3% during the 2nd quarter. Bank of Montreal Can now owns 353,160 shares of the insurance provider’s stock valued at $27,338,000 after buying an additional 182,009 shares during the last quarter. Lee Danner & Bass Inc. purchased a new position in shares of Loews during the second quarter valued at approximately $13,379,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Loews by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider’s stock valued at $199,858,000 after acquiring an additional 161,810 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

L has been the topic of several recent research reports. StockNews.com lowered Loews from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Jefferies Financial Group decreased their price target on Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st.

Loews Stock Performance

L stock opened at $86.07 on Monday. Loews Co. has a 12 month low of $67.20 and a 12 month high of $86.27. The company has a market capitalization of $18.74 billion, a price-to-earnings ratio of 11.43 and a beta of 0.82. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $80.44 and a two-hundred day moving average of $78.41.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Wednesday, November 27th. Loews’s dividend payout ratio (DPR) is presently 3.32%.

Insiders Place Their Bets

In related news, insider Jonathan M. Tisch sold 25,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total value of $2,045,500.00. Following the completion of the sale, the insider now owns 461,395 shares in the company, valued at $37,751,338.90. This represents a 5.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ann E. Berman sold 1,087 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total value of $88,460.06. Following the transaction, the director now owns 4,998 shares of the company’s stock, valued at approximately $406,737.24. This trade represents a 17.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 213,587 shares of company stock worth $17,586,460 over the last three months. 18.70% of the stock is currently owned by corporate insiders.

About Loews

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.