APG Asset Management N.V. Increases Stake in Loews Co. (NYSE:L)

APG Asset Management N.V. lifted its position in shares of Loews Co. (NYSE:L) by 12.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 552,240 shares of the insurance provider’s stock after acquiring an additional 59,102 shares during the quarter. APG Asset Management N.V. owned 0.25% of Loews worth $38,511,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in L. Versant Capital Management Inc lifted its holdings in Loews by 244.0% in the second quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 266 shares during the period. Family Firm Inc. purchased a new position in shares of Loews in the 2nd quarter valued at about $46,000. Able Wealth Management LLC acquired a new stake in shares of Loews in the fourth quarter valued at about $48,000. Innealta Capital LLC acquired a new stake in shares of Loews in the second quarter valued at about $51,000. Finally, Blue Trust Inc. grew its position in Loews by 80.9% during the second quarter. Blue Trust Inc. now owns 693 shares of the insurance provider’s stock worth $54,000 after buying an additional 310 shares during the period. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Trading Up 0.3 %

NYSE L opened at $78.91 on Friday. The company has a market cap of $17.47 billion, a P/E ratio of 11.71 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 company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The company has a 50-day moving average of $79.06 and a 200-day moving average of $77.08.

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

Loews Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Wednesday, August 21st were given a $0.0625 dividend. 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 (DPR) is currently 3.71%.

Insider Activity at Loews

In other news, Director Jonathan C. Locker purchased 6,200 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was bought at an average cost of $80.63 per share, for a total transaction of $499,906.00. Following the completion of the purchase, the director now directly owns 23,068 shares of the company’s stock, valued at approximately $1,859,972.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Loews news, VP Mark S. Schwartz sold 2,628 shares of the business’s 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 transaction, the vice president now owns 14,933 shares in the company, valued at $1,207,781.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jonathan C. Locker bought 6,200 shares of the stock in a transaction dated Tuesday, July 30th. The stock was bought at an average price 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. Over the last 90 days, insiders have sold 91,215 shares of company stock worth $7,399,013. 18.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on L. Royal Bank of Canada raised shares of Loews to a “moderate buy” rating in a research note on Friday, July 26th. Jefferies Financial Group dropped their price objective 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.

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.