3,200 Shares in Loews Co. (NYSE:L) Bought by Whittier Trust Co.

Whittier Trust Co. acquired a new stake in Loews Co. (NYSE:L) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,200 shares of the insurance provider’s stock, valued at approximately $239,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new position in Loews in the 4th quarter worth approximately $26,000. Versant Capital Management Inc boosted its holdings in Loews by 244.0% in the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock worth $28,000 after buying an additional 266 shares during the last quarter. Northwest Financial Advisors purchased a new stake in shares of Loews during the fourth quarter worth $28,000. Principal Securities Inc. acquired a new position in Loews in the fourth quarter valued at $38,000. Finally, Family Firm Inc. purchased a new position in Loews during the second quarter worth about $46,000. Institutional investors own 58.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on L. Jefferies Financial Group decreased their price target on shares of 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 raised shares of Loews to a “moderate buy” rating in a report on Friday, July 26th.

Insider Activity at Loews

In other news, VP Mark S. Schwartz sold 2,628 shares of Loews stock in a transaction dated 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 $1,207,781.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of 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 legal filing with the SEC, which is available at this link. Also, Director Jonathan C. Locker acquired 6,200 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was purchased at an average cost of $80.63 per share, with a total value of $499,906.00. Following the completion of the transaction, the director now owns 23,068 shares in the company, valued at $1,859,972.84. The disclosure for this purchase can be found here. Insiders own 18.70% of the company’s stock.

Loews Price Performance

L opened at $81.68 on Friday. The stock has a market capitalization of $18.08 billion, a PE ratio of 12.12 and a beta of 0.83. The stock’s 50 day moving average price is $77.55 and its 200-day moving average price is $76.34. Loews Co. has a 52-week low of $61.29 and a 52-week high of $83.54. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34.

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

Loews Announces Dividend

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

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.