Loews Co. (NYSE:L) Shares Purchased by AGF Management Ltd.

AGF Management Ltd. increased its stake in shares of Loews Co. (NYSE:L) by 3.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 31,385 shares of the insurance provider’s stock after acquiring an additional 1,118 shares during the period. AGF Management Ltd.’s holdings in Loews were worth $2,346,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of L. Versant Capital Management Inc raised its position in shares of Loews by 244.0% in 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. Principal Securities Inc. acquired a new position in shares of Loews in the 4th quarter valued at approximately $38,000. Family Firm Inc. acquired a new position in shares of Loews in the 2nd quarter valued at approximately $46,000. Able Wealth Management LLC acquired a new position in shares of Loews in the 4th quarter valued at approximately $48,000. Finally, Innealta Capital LLC acquired a new position in shares of Loews in the 2nd quarter valued at approximately $51,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Jonathan C. Locker acquired 6,200 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was purchased at an average cost of $80.63 per share, for a total transaction of $499,906.00. Following the purchase, the director now directly owns 23,068 shares in the company, valued at $1,859,972.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jonathan M. Tisch sold 25,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.82, for a total value of $2,045,500.00. Following the completion of the transaction, the insider now owns 461,395 shares of the company’s stock, valued at $37,751,338.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jonathan C. Locker purchased 6,200 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was acquired at an average cost of $80.63 per share, with a total value of $499,906.00. Following the purchase, the director now owns 23,068 shares of the company’s stock, valued at approximately $1,859,972.84. The disclosure for this purchase can be found here. Insiders sold a total of 91,215 shares of company stock worth $7,399,013 in the last three months. 18.70% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Loews Stock Performance

L stock opened at $78.34 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. The firm has a market cap of $17.20 billion, a P/E ratio of 11.62 and a beta of 0.82. Loews Co. has a 12-month low of $61.43 and a 12-month high of $83.54. The stock’s 50 day simple moving average is $78.76 and its 200 day simple moving average is $76.84.

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

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Wednesday, August 21st were paid a dividend of $0.0625 per share. The ex-dividend date was Wednesday, August 21st. This represents a $0.25 dividend on an annualized basis and a yield of 0.32%. Loews’s payout ratio is currently 3.71%.

Loews Company 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.