Loews Corporation $L Shares Sold by Mendota Financial Group LLC

Mendota Financial Group LLC reduced its holdings in shares of Loews Corporation (NYSE:L) by 1.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 13,941 shares of the insurance provider’s stock after selling 233 shares during the period. Loews accounts for about 1.2% of Mendota Financial Group LLC’s investment portfolio, making the stock its 16th biggest holding. Mendota Financial Group LLC’s holdings in Loews were worth $1,278,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new stake in shares of Loews during the first quarter worth $25,000. Sierra Ocean LLC boosted its holdings in Loews by 805.9% in the first quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 274 shares during the period. Elequin Capital LP acquired a new position in Loews during the 1st quarter worth $30,000. Zions Bancorporation National Association UT purchased a new stake in Loews during the 1st quarter worth about $33,000. Finally, NBC Securities Inc. acquired a new stake in Loews in the 1st quarter valued at about $40,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Stock Performance

Shares of L opened at $101.71 on Friday. Loews Corporation has a 1 year low of $75.16 and a 1 year high of $101.79. The stock has a market capitalization of $21.10 billion, a PE ratio of 16.17 and a beta of 0.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a 50-day simple moving average of $95.88 and a 200-day simple moving average of $91.05.

Loews (NYSE:L) last issued its earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%. The firm had revenue of $4.56 billion for the quarter.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, August 20th. Loews’s dividend payout ratio is 3.97%.

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.