Loews Co. (NYSE:L) Shares Sold by Inspire Investing LLC

Inspire Investing LLC lessened its position in shares of Loews Co. (NYSE:L) by 16.1% during the 2nd quarter, Holdings Channel reports. The firm owned 24,416 shares of the insurance provider’s stock after selling 4,681 shares during the quarter. Inspire Investing LLC’s holdings in Loews were worth $1,825,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of L. Vanguard Group Inc. raised its holdings in shares of Loews by 2.5% during the first quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider’s stock worth $1,656,376,000 after purchasing an additional 507,513 shares during the last quarter. Swedbank AB acquired a new stake in Loews during the 1st quarter worth about $23,646,000. Northern Trust Corp raised its stake in shares of Loews by 11.9% during the 4th quarter. Northern Trust Corp now owns 2,503,105 shares of the insurance provider’s stock valued at $174,191,000 after buying an additional 266,729 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of Loews by 77.9% in the 2nd quarter. TD Asset Management Inc now owns 525,920 shares of the insurance provider’s stock valued at $39,307,000 after buying an additional 230,231 shares during the period. Finally, UBS Group AG boosted its stake in shares of Loews by 60.0% in the fourth quarter. UBS Group AG now owns 555,768 shares of the insurance provider’s stock worth $38,676,000 after buying an additional 208,356 shares during the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Trading Up 0.1 %

Shares of NYSE:L opened at $79.25 on Friday. The firm has a market capitalization of $17.55 billion, a price-to-earnings ratio of 11.76 and a beta of 0.82. The business’s 50 day moving average price is $79.06 and its 200-day moving average price is $76.95. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. Loews Co. has a 1 year low of $61.43 and a 1 year high of $83.54.

Loews (NYSE:L) last announced its earnings results on Monday, July 29th. The insurance provider reported $1.67 earnings per share (EPS) for the quarter. Loews had a net margin of 9.14% and a return on equity of 9.26%. The business had revenue of $4.27 billion for the quarter.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.25 annualized dividend and a yield of 0.32%. Loews’s dividend payout ratio (DPR) is currently 3.71%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Jefferies Financial Group reduced their price target on Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Royal Bank of Canada raised shares of Loews to a “moderate buy” rating in a research note on Friday, July 26th.

Insider Buying and Selling at Loews

In other Loews news, Director Jonathan C. Locker bought 6,200 shares of the stock in a transaction on Tuesday, July 30th. The shares were bought at an average price of $80.63 per share, with a total value of $499,906.00. Following the purchase, the director now directly owns 23,068 shares in the company, valued at approximately $1,859,972.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Jonathan M. Tisch sold 62,500 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $80.84, for a total value of $5,052,500.00. Following the completion of the sale, the insider now owns 6,781,634 shares of the company’s stock, valued at $548,227,292.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jonathan C. Locker bought 6,200 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was bought at an average price of $80.63 per share, with a total value of $499,906.00. Following the completion of the acquisition, the director now owns 23,068 shares in the company, valued at $1,859,972.84. The disclosure for this purchase can be found here. Insiders sold 91,215 shares of company stock valued at $7,399,013 over the last quarter. 18.70% of the stock is currently owned by insiders.

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.