Mendota Financial Group LLC Cuts Stake in Loews Co. (NYSE:L)

Mendota Financial Group LLC cut its stake in shares of Loews Co. (NYSE:L - Free Report) by 49.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,360 shares of the insurance provider's stock after selling 51,443 shares during the quarter. Loews accounts for about 2.9% of Mendota Financial Group LLC's holdings, making the stock its 11th biggest holding. Mendota Financial Group LLC's holdings in Loews were worth $4,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in Loews by 1.0% in the third quarter. State Street Corp now owns 8,077,241 shares of the insurance provider's stock worth $638,506,000 after buying an additional 82,581 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Loews by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider's stock valued at $336,005,000 after buying an additional 53,428 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Loews by 2.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,183,138 shares of the insurance provider's stock worth $251,627,000 after buying an additional 69,459 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in 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 period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Loews by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider's stock worth $127,409,000 after acquiring an additional 8,615 shares during the period. Institutional investors own 58.33% of the company's stock.

Insider Buying and Selling at Loews

In related news, Director Charles M. Diker sold 1,146 shares of the firm's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total transaction of $99,507.18. Following the completion of the transaction, the director now owns 19,906 shares of the company's stock, valued at $1,728,437.98. This trade represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andrew H. Tisch sold 75,000 shares of the business's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $83.16, for a total transaction of $6,237,000.00. Following the transaction, the director now owns 12,089,677 shares of the company's stock, valued at $1,005,377,539.32. This represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,679 shares of company stock worth $11,134,916 over the last three months. Corporate insiders own 18.70% of the company's stock.

Loews Trading Up 1.6 %

Loews stock traded up $1.35 during trading hours on Tuesday, hitting $83.43. The company had a trading volume of 587,116 shares, compared to its average volume of 743,865. The company has a 50-day moving average price of $84.24 and a two-hundred day moving average price of $80.67. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. Loews Co. has a 1 year low of $70.59 and a 1 year high of $87.45. The firm has a market cap of $18.17 billion, a P/E ratio of 11.08 and a beta of 0.83.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 27th were given a dividend of $0.0625 per share. The ex-dividend date was Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a yield of 0.30%. Loews's payout ratio is 3.32%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Loews from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, November 20th.

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.