Loews Co. (NYSE:L) Stock Holdings Raised by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. raised its stake in Loews Co. (NYSE:L) by 380.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 9,460 shares of the insurance provider’s stock after purchasing an additional 7,492 shares during the period. Brown Brothers Harriman & Co.’s holdings in Loews were worth $707,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Loews by 2.5% in the 1st 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. Allspring Global Investments Holdings LLC increased its position in shares of Loews by 1.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,259,802 shares of the insurance provider’s stock worth $255,210,000 after purchasing an additional 37,953 shares during the last quarter. Northern Trust Corp increased its position in shares of Loews by 11.9% in the 4th quarter. Northern Trust Corp now owns 2,503,105 shares of the insurance provider’s stock worth $174,191,000 after purchasing an additional 266,729 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Loews by 9.0% in the 4th quarter. Hsbc Holdings PLC now owns 570,748 shares of the insurance provider’s stock worth $39,698,000 after purchasing an additional 46,990 shares during the last quarter. Finally, UBS Group AG increased its position in shares of Loews by 60.0% in the 4th quarter. UBS Group AG now owns 555,768 shares of the insurance provider’s stock worth $38,676,000 after purchasing an additional 208,356 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling at Loews

In other Loews news, insider Jonathan M. Tisch sold 25,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the completion of the transaction, the insider now directly owns 461,395 shares of the company’s stock, valued at approximately $37,751,338.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jonathan M. Tisch sold 62,500 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 6,781,634 shares of the company’s stock, valued at $548,227,292.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jonathan M. Tisch sold 25,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the sale, the insider now directly owns 461,395 shares of the company’s stock, valued at $37,751,338.90. The disclosure for this sale can be found here. Insiders sold 91,215 shares of company stock valued at $7,399,013 in the last ninety days. Company insiders own 18.70% of the company’s stock.

Analysts Set New Price Targets

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

Loews Price Performance

Shares of NYSE:L opened at $79.29 on Wednesday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a fifty-two week low of $61.43 and a fifty-two week high of $83.54. The firm has a 50-day simple moving average of $78.94 and a 200 day simple moving average of $76.92. The company has a market cap of $17.56 billion, a PE ratio of 11.76 and a beta of 0.82.

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

Loews Dividend Announcement

The company also recently announced 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. This represents a $0.25 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date was Wednesday, August 21st. Loews’s payout ratio is 3.71%.

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.