Levin Capital Strategies L.P. Has $9.91 Million Stake in Loews Corporation (NYSE:L)

Levin Capital Strategies L.P. trimmed its position in shares of Loews Corporation (NYSE:L) by 6.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 107,811 shares of the insurance provider’s stock after selling 7,274 shares during the period. Levin Capital Strategies L.P.’s holdings in Loews were worth $9,909,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Gilder Gagnon Howe & Co. LLC lifted its position in Loews by 3.2% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 3,884 shares of the insurance provider’s stock valued at $329,000 after purchasing an additional 122 shares during the last quarter. Miracle Mile Advisors LLC lifted its position in Loews by 3.5% in the first quarter. Miracle Mile Advisors LLC now owns 3,855 shares of the insurance provider’s stock valued at $354,000 after purchasing an additional 130 shares during the last quarter. Signaturefd LLC lifted its position in Loews by 4.0% in the first quarter. Signaturefd LLC now owns 3,940 shares of the insurance provider’s stock valued at $362,000 after purchasing an additional 152 shares during the last quarter. Salvus Wealth Management LLC lifted its position in Loews by 1.4% in the first quarter. Salvus Wealth Management LLC now owns 11,848 shares of the insurance provider’s stock valued at $1,089,000 after purchasing an additional 165 shares during the last quarter. Finally, Flynn Zito Capital Management LLC lifted its position in Loews by 5.9% in the first quarter. Flynn Zito Capital Management LLC now owns 3,309 shares of the insurance provider’s stock valued at $304,000 after purchasing an additional 183 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Price Performance

L opened at $92.87 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.33 and a current ratio of 0.33. Loews Corporation has a 52-week low of $75.16 and a 52-week high of $93.23. The stock has a market capitalization of $19.47 billion, a PE ratio of 15.25 and a beta of 0.70. The stock’s 50 day moving average price is $90.23 and its 200-day moving average price is $87.65.

Loews (NYSE:L) last posted its earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share (EPS) for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.25 annualized dividend and a dividend yield of 0.3%. Loews’s payout ratio is 4.11%.

Insider Activity

In other news, SVP Richard Waldo Scott sold 9,019 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president directly owned 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 19.00% of the company’s stock.

Analyst Ratings Changes

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

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.