Trustmark National Bank Trust Department Makes New $1.15 Million Investment in Loews Co. (NYSE:L)

Trustmark National Bank Trust Department purchased a new position in shares of Loews Co. (NYSE:L) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 14,693 shares of the insurance provider’s stock, valued at approximately $1,150,000.

Several other large investors also recently modified their holdings of the stock. Altshuler Shaham Ltd bought a new stake in Loews in the 4th quarter valued at about $26,000. Northwest Financial Advisors purchased a new position in shares of Loews during the 4th quarter valued at $28,000. Desjardins Global Asset Management Inc. increased its holdings in shares of Loews by 225.2% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 340 shares during the period. Principal Securities Inc. bought a new position in shares of Loews in the fourth quarter worth $38,000. Finally, Lindbrook Capital LLC raised its position in shares of Loews by 41.4% in the fourth quarter. Lindbrook Capital LLC now owns 611 shares of the insurance provider’s stock worth $43,000 after buying an additional 179 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Insider Transactions at Loews

In other Loews news, insider Jonathan M. Tisch sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $77.39, for a total transaction of $3,869,500.00. Following the sale, the insider now owns 607,799 shares in the company, valued at $47,037,564.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 150,000 shares of company stock valued at $11,588,500 in the last quarter. Insiders own 18.70% of the company’s stock.

Loews Price Performance

Loews stock traded up $0.34 during midday trading on Tuesday, hitting $78.42. 128,958 shares of the company’s stock were exchanged, compared to its average volume of 737,128. The company has a market cap of $17.36 billion, a P/E ratio of 11.58 and a beta of 0.84. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a 50-day moving average price of $75.81 and a two-hundred day moving average price of $75.13. Loews Co. has a 52-week low of $60.98 and a 52-week high of $81.11.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, May 6th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter. Loews had a return on equity of 9.45% and a net margin of 9.27%. The firm had revenue of $4.23 billion during the quarter.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.25 dividend on an annualized basis and a yield of 0.32%. Loews’s dividend payout ratio is presently 3.71%.

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.