National Bank of Canada FI Sells 96,284 Shares of Loews Co. (NYSE:L)

National Bank of Canada FI decreased its position in shares of Loews Co. (NYSE:L) by 61.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,043 shares of the insurance provider’s stock after selling 96,284 shares during the period. National Bank of Canada FI’s holdings in Loews were worth $4,560,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Versant Capital Management Inc boosted its stake in shares of Loews by 244.0% during the second 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 during the period. Principal Securities Inc. purchased a new stake in shares of Loews during the fourth quarter valued at $38,000. Family Firm Inc. purchased a new stake in shares of Loews during the second quarter valued at $46,000. Able Wealth Management LLC purchased a new stake in shares of Loews during the fourth quarter valued at $48,000. Finally, Innealta Capital LLC purchased a new stake in shares of Loews during the second quarter valued at $51,000. Institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling

In other news, VP Mark S. Schwartz sold 2,628 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were 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 of the company’s stock, valued at approximately $1,207,781.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Ann E. Berman sold 1,087 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the sale, the director now owns 4,998 shares of the company’s stock, valued at approximately $406,737.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mark S. Schwartz sold 2,628 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 91,215 shares of company stock worth $7,399,013. 18.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

L has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered their target price on shares of Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Royal Bank of Canada raised shares of Loews to a “moderate buy” rating in a research note on Friday, July 26th.

Loews Stock Performance

L opened at $79.46 on Wednesday. Loews Co. has a 52-week low of $61.43 and a 52-week 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 company has a market cap of $17.44 billion, a P/E ratio of 11.79 and a beta of 0.82. The firm’s 50-day moving average price is $78.52 and its 200-day moving average price is $76.79.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, July 29th. The insurance provider reported $1.67 earnings per share (EPS) for the quarter. Loews had a net margin of 9.14% and a return on equity of 9.26%. The firm had revenue of $4.27 billion for 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 issued a $0.0625 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $0.25 annualized dividend and a yield of 0.31%. Loews’s dividend payout ratio (DPR) 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.