TD Asset Management Inc Raises Stake in Loews Co. (NYSE:L)

TD Asset Management Inc lifted its position in Loews Co. (NYSE:L) by 77.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 525,920 shares of the insurance provider’s stock after purchasing an additional 230,231 shares during the period. TD Asset Management Inc’s holdings in Loews were worth $39,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Natixis Advisors L.P. boosted its holdings in Loews by 7.1% in the 4th quarter. Natixis Advisors L.P. now owns 66,665 shares of the insurance provider’s stock worth $4,639,000 after buying an additional 4,444 shares during the period. National Bank of Canada FI lifted its position in shares of Loews by 4.2% in the fourth quarter. National Bank of Canada FI now owns 59,866 shares of the insurance provider’s stock valued at $4,218,000 after acquiring an additional 2,423 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Loews by 59.5% in the fourth quarter. Private Advisor Group LLC now owns 5,052 shares of the insurance provider’s stock worth $352,000 after acquiring an additional 1,885 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Loews by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,587,817 shares of the insurance provider’s stock worth $110,496,000 after acquiring an additional 21,323 shares during the period. Finally, Wealthspire Advisors LLC grew its position in shares of Loews by 12.8% during the fourth quarter. Wealthspire Advisors LLC now owns 4,121 shares of the insurance provider’s stock worth $287,000 after purchasing an additional 468 shares in the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Trading Down 1.9 %

Shares of Loews stock opened at $79.39 on Friday. Loews Co. has a twelve month low of $61.43 and a twelve month high of $83.54. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. The business has a 50-day moving average price of $78.32 and a 200-day moving average price of $76.71. The firm has a market cap of $17.58 billion, a price-to-earnings ratio of 11.78 and a beta of 0.82.

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

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Wednesday, August 21st were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.31%. The ex-dividend date was Wednesday, August 21st. Loews’s dividend payout ratio is presently 3.71%.

Analyst Ratings Changes

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

Insider Activity at Loews

In related news, VP Mark S. Schwartz sold 2,628 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $80.88, for a total value of $212,552.64. Following the completion of the transaction, the vice president now owns 14,933 shares of the company’s stock, valued at approximately $1,207,781.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Mark S. Schwartz sold 2,628 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $80.88, for a total transaction of $212,552.64. Following the sale, the vice president now owns 14,933 shares in the company, valued at approximately $1,207,781.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan M. Tisch sold 62,500 shares of the firm’s stock in a transaction 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 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 over the last 90 days. 18.70% of the stock is owned by corporate 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.