Mendota Financial Group LLC Sells 51,443 Shares of Loews Co. (NYSE:L)

Mendota Financial Group LLC reduced its stake in shares of Loews Co. (NYSE:L) by 49.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 52,360 shares of the insurance provider’s stock after selling 51,443 shares during the quarter. Loews accounts for approximately 2.9% of Mendota Financial Group LLC’s portfolio, making the stock its 11th largest position. Mendota Financial Group LLC’s holdings in Loews were worth $4,434,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in L. Charles Schwab Investment Management Inc. raised its stake in shares of Loews by 0.5% during 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 in the last quarter. Intech Investment Management LLC grew its holdings in shares of Loews by 8.0% during the 3rd quarter. Intech Investment Management LLC now owns 137,566 shares of the insurance provider’s stock valued at $10,875,000 after purchasing an additional 10,213 shares during the last quarter. Swedbank AB raised its position in Loews by 8.8% in the 3rd quarter. Swedbank AB now owns 379,647 shares of the insurance provider’s stock worth $30,011,000 after purchasing an additional 30,600 shares during the period. PNC Financial Services Group Inc. lifted its stake in Loews by 47.8% in the third quarter. PNC Financial Services Group Inc. now owns 37,319 shares of the insurance provider’s stock worth $2,950,000 after purchasing an additional 12,070 shares during the last quarter. Finally, Citigroup Inc. boosted its position in Loews by 35.5% during the third quarter. Citigroup Inc. now owns 266,850 shares of the insurance provider’s stock valued at $21,094,000 after buying an additional 69,896 shares during the period. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Loews from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th.

Loews Stock Performance

NYSE:L opened at $82.17 on Tuesday. 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 fifty-two week low of $70.59 and a fifty-two week high of $87.45. The business has a 50 day moving average price of $84.14 and a 200-day moving average price of $80.61. The firm has a market cap of $17.89 billion, a PE ratio of 10.91 and a beta of 0.83.

Loews Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend was Wednesday, November 27th. Loews’s dividend payout ratio (DPR) is presently 3.32%.

Insider Buying and Selling at Loews

In related news, Director Charles M. Diker sold 1,146 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $86.83, for a total value of $99,507.18. Following the completion of the transaction, the director now directly owns 19,906 shares of the company’s stock, valued at $1,728,437.98. This represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $83.26, for a total value of $4,163,000.00. Following the sale, the director now directly owns 11,939,677 shares in the company, valued at approximately $994,097,507.02. The trade was a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,679 shares of company stock worth $11,134,916. 18.70% of the stock is currently owned by company insiders.

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.