Loews Co. (NYSE:L) Shares Acquired by Sei Investments Co.

Sei Investments Co. boosted its position in shares of Loews Co. (NYSE:L) by 28.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,139 shares of the insurance provider’s stock after purchasing an additional 44,207 shares during the period. Sei Investments Co. owned approximately 0.09% of Loews worth $14,734,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in L. Skandinaviska Enskilda Banken AB publ grew its stake in Loews by 5.8% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 157,182 shares of the insurance provider’s stock valued at $11,748,000 after purchasing an additional 8,589 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Loews by 12.1% during the second quarter. Canada Pension Plan Investment Board now owns 194,677 shares of the insurance provider’s stock worth $14,550,000 after buying an additional 21,000 shares in the last quarter. Intech Investment Management LLC increased its stake in shares of Loews by 46.6% in the second quarter. Intech Investment Management LLC now owns 127,353 shares of the insurance provider’s stock worth $9,518,000 after buying an additional 40,486 shares during the last quarter. Seven Eight Capital LP acquired a new stake in Loews in the second quarter valued at $226,000. Finally, Hsbc Holdings PLC boosted its stake in Loews by 5.0% during the 2nd quarter. Hsbc Holdings PLC now owns 692,116 shares of the insurance provider’s stock valued at $51,750,000 after acquiring an additional 33,125 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Stock Up 0.9 %

L stock opened at $78.73 on Friday. The stock has a market cap of $17.43 billion, a PE ratio of 11.68 and a beta of 0.82. The firm’s 50-day simple moving average is $79.08 and its 200 day simple moving average is $77.07. Loews Co. has a fifty-two week low of $61.43 and a fifty-two 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.

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

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 21st were given 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 yield of 0.32%. Loews’s dividend payout ratio (DPR) is presently 3.71%.

Insider Transactions at Loews

In other Loews news, insider Jonathan M. Tisch sold 62,500 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $80.84, for a total transaction of $5,052,500.00. Following the sale, the insider now directly owns 6,781,634 shares in the company, valued at approximately $548,227,292.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jonathan M. Tisch sold 62,500 shares of Loews stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $80.84, for a total transaction of $5,052,500.00. Following the transaction, the insider now directly owns 6,781,634 shares in the company, valued at approximately $548,227,292.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ann E. Berman sold 1,087 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total value of $88,460.06. Following the completion of the sale, the director now owns 4,998 shares of the company’s stock, valued at approximately $406,737.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,215 shares of company stock valued at $7,399,013. 18.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.