Loews Co. (NYSE:L) Stock Position Lifted by Bank of Montreal Can

Bank of Montreal Can grew its holdings in shares of Loews Co. (NYSE:L) by 106.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 353,160 shares of the insurance provider’s stock after purchasing an additional 182,009 shares during the period. Bank of Montreal Can owned approximately 0.16% of Loews worth $27,338,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc boosted its stake in 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 purchasing an additional 266 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of Loews in the second quarter valued at $46,000. Able Wealth Management LLC bought a new position in Loews during the fourth quarter valued at about $48,000. Innealta Capital LLC acquired a new position in Loews during the second quarter worth about $51,000. Finally, Blue Trust Inc. raised its position in Loews by 80.9% in the second quarter. Blue Trust Inc. now owns 693 shares of the insurance provider’s stock worth $54,000 after acquiring an additional 310 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Activity at Loews

In other 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 value 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jonathan C. Locker bought 6,200 shares of the stock in a transaction on Tuesday, July 30th. The shares were purchased at an average price of $80.63 per share, for a total transaction of $499,906.00. Following the completion of the purchase, the director now directly owns 23,068 shares of the company’s stock, valued at approximately $1,859,972.84. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Jonathan M. Tisch sold 62,500 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 6,781,634 shares in the company, valued at $548,227,292.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,215 shares of company stock valued at $7,399,013. Company insiders own 18.70% of the company’s stock.

Analysts Set New Price Targets

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

Loews Price Performance

NYSE L opened at $78.91 on Friday. 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 company has a market cap of $17.47 billion, a PE ratio of 11.71 and a beta of 0.82. The stock’s 50-day moving average price is $79.06 and its two-hundred day moving average price is $77.08.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, July 29th. The insurance provider reported $1.67 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 during the quarter.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.32%. Loews’s dividend 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.