CENTRAL TRUST Co Sells 750 Shares of Loews Co. (NYSE:L)

CENTRAL TRUST Co cut its stake in shares of Loews Co. (NYSE:L) by 19.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,067 shares of the insurance provider’s stock after selling 750 shares during the quarter. CENTRAL TRUST Co’s holdings in Loews were worth $242,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of L. Versant Capital Management Inc lifted its position in shares of Loews by 244.0% during the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock valued at $28,000 after buying an additional 266 shares in the last quarter. Kimelman & Baird LLC purchased a new position in Loews during the second quarter valued at approximately $45,000. Family Firm Inc. bought a new position in shares of Loews in the second quarter worth approximately $46,000. Eastern Bank purchased a new stake in shares of Loews in the third quarter worth $47,000. Finally, Innealta Capital LLC bought a new stake in shares of Loews during the 2nd quarter valued at $51,000. Institutional investors own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

L has been the subject of several recent analyst reports. Royal Bank of Canada raised shares of Loews to a “moderate buy” rating in a report on Friday, July 26th. Jefferies Financial Group dropped their price objective on Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st.

Loews Price Performance

L stock opened at $79.57 on Friday. 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 company’s fifty day moving average price is $79.67 and its 200-day moving average price is $77.46. Loews Co. has a one year low of $62.18 and a one year high of $83.54. The company has a market capitalization of $17.47 billion, a PE ratio of 11.65 and a beta of 0.81.

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

Loews Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 21st were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend was Wednesday, August 21st. Loews’s dividend payout ratio is presently 3.66%.

Insiders Place Their Bets

In other Loews news, insider Jonathan M. Tisch sold 62,500 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $80.84, for a total transaction of $5,052,500.00. Following the completion of the transaction, the insider now owns 6,781,634 shares in the company, valued at $548,227,292.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Jonathan M. Tisch sold 62,500 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $80.84, for a total value of $5,052,500.00. Following the sale, the insider now directly owns 6,781,634 shares in the company, valued at $548,227,292.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ann E. Berman sold 1,087 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the completion of the transaction, the director now directly owns 4,998 shares of the company’s stock, valued at approximately $406,737.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 91,215 shares of company stock valued at $7,399,013 in the last quarter. 18.70% of the stock is currently owned by insiders.

Loews 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.