Edgestream Partners L.P. Sells 39,745 Shares of Loews Co. (NYSE:L)

Edgestream Partners L.P. reduced its holdings in Loews Co. (NYSE:L) by 72.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,295 shares of the insurance provider’s stock after selling 39,745 shares during the quarter. Edgestream Partners L.P.’s holdings in Loews were worth $1,143,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Principal Securities Inc. bought a new stake in shares of Loews during the fourth quarter valued at approximately $38,000. Janney Montgomery Scott LLC increased its holdings in shares of Loews by 79.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 12,043 shares of the insurance provider’s stock valued at $838,000 after acquiring an additional 5,332 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Loews by 11.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 25,066 shares of the insurance provider’s stock valued at $1,744,000 after acquiring an additional 2,625 shares in the last quarter. UBS Group AG increased its holdings in shares of Loews by 60.0% during the fourth quarter. UBS Group AG now owns 555,768 shares of the insurance provider’s stock valued at $38,676,000 after acquiring an additional 208,356 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Loews by 8.1% during the fourth quarter. Wells Fargo & Company MN now owns 196,732 shares of the insurance provider’s stock valued at $13,691,000 after acquiring an additional 14,820 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Loews Stock Down 0.9 %

L stock opened at $78.54 on Friday. The stock’s fifty day simple moving average is $79.09 and its two-hundred day simple moving average is $76.98. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a 1-year low of $61.43 and a 1-year high of $83.54. The stock has a market cap of $17.39 billion, a P/E ratio of 11.65 and a beta of 0.82.

Loews (NYSE:L) last posted its quarterly earnings data 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 for the quarter.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 21st were given a $0.0625 dividend. 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 is currently 3.71%.

Insiders Place Their Bets

In other news, VP Mark S. Schwartz sold 2,628 shares of the company’s 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 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 Securities & Exchange Commission, which can be accessed through this link. In related news, VP Mark S. Schwartz sold 2,628 shares of the business’s 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 directly owns 14,933 shares in the company, valued at approximately $1,207,781.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ann E. Berman sold 1,087 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total value of $88,460.06. Following the sale, the director now owns 4,998 shares in the company, valued at $406,737.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,215 shares of company stock valued at $7,399,013. Insiders own 18.70% of the company’s stock.

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.