Foundation Resource Management Inc. Has $11.89 Million Holdings in Loews Co. (NYSE:L)

Foundation Resource Management Inc. reduced its holdings in Loews Co. (NYSE:L) by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,385 shares of the insurance provider’s stock after selling 4,200 shares during the quarter. Loews makes up approximately 1.9% of Foundation Resource Management Inc.’s holdings, making the stock its 19th largest holding. Foundation Resource Management Inc. owned about 0.06% of Loews worth $11,892,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of L. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Loews by 38.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,784 shares of the insurance provider’s stock worth $1,506,000 after buying an additional 4,961 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Loews by 0.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 511,291 shares of the insurance provider’s stock worth $43,301,000 after buying an additional 1,942 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Loews by 2.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,499 shares of the insurance provider’s stock worth $1,905,000 after buying an additional 439 shares in the last quarter. Empowered Funds LLC lifted its holdings in Loews by 13.5% during the 4th quarter. Empowered Funds LLC now owns 3,393 shares of the insurance provider’s stock worth $287,000 after buying an additional 403 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in Loews during the 4th quarter worth $2,083,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Loews

In related news, Director Jonathan M. Tisch sold 50,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $84.66, for a total value of $4,233,000.00. Following the completion of the transaction, the director now directly owns 6,755,529 shares of the company’s stock, valued at approximately $571,923,085.14. This represents a 0.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Richard Waldo Scott sold 9,019 shares of the company’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $87.92, for a total transaction of $792,950.48. Following the completion of the transaction, the senior vice president now directly owns 33,901 shares of the company’s stock, valued at approximately $2,980,575.92. The trade was a 21.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 106,655 shares of company stock worth $9,069,294 in the last quarter. Corporate insiders own 19.00% of the company’s stock.

Loews Stock Performance

Shares of Loews stock opened at $89.19 on Monday. The firm has a fifty day moving average of $87.01 and a two-hundred day moving average of $85.94. The stock has a market capitalization of $18.70 billion, a price-to-earnings ratio of 13.94 and a beta of 0.71. Loews Co. has a 52 week low of $73.15 and a 52 week high of $92.42. 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 (NYSE:L) last issued its earnings results on Monday, May 5th. The insurance provider reported $1.74 EPS for the quarter. The company had revenue of $4.49 billion during the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date is Wednesday, May 28th. Loews’s dividend payout ratio is currently 4.11%.

Wall Street Analysts Forecast Growth

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

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.