Loews Co. (NYSE:L) Stake Increased by Amalgamated Bank

Amalgamated Bank increased its holdings in shares of Loews Co. (NYSE:L) by 5.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 58,293 shares of the insurance provider’s stock after purchasing an additional 3,058 shares during the quarter. Amalgamated Bank’s holdings in Loews were worth $4,357,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc increased its stake in 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 buying an additional 266 shares during the period. Principal Securities Inc. purchased a new position in shares of Loews during the 4th quarter valued at $38,000. Family Firm Inc. acquired a new position in shares of Loews in the second quarter worth $46,000. Able Wealth Management LLC purchased a new stake in shares of Loews during the fourth quarter worth $48,000. Finally, Innealta Capital LLC acquired a new stake in Loews during the second quarter valued at $51,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Price Performance

NYSE L opened at $78.54 on Friday. Loews Co. has a fifty-two week low of $61.43 and a fifty-two week high of $83.54. The stock’s 50-day moving average is $79.09 and its two-hundred day moving average is $77.00. The firm has a market cap of $17.39 billion, a P/E ratio of 11.65 and a beta of 0.82. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34.

Loews (NYSE:L) last issued its quarterly earnings data on Monday, July 29th. The insurance provider reported $1.67 earnings per share 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 Announces Dividend

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

Insider Activity at Loews

In other news, insider Jonathan M. Tisch sold 25,000 shares of Loews stock in a transaction dated 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 transaction, the insider now directly owns 461,395 shares in the company, valued at $37,751,338.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Loews news, insider Jonathan M. Tisch sold 62,500 shares of the stock in a transaction 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 approximately $548,227,292.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jonathan M. Tisch sold 25,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the completion of the sale, the insider now owns 461,395 shares in the company, valued at $37,751,338.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,215 shares of company stock worth $7,399,013. 18.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.