MBB Public Markets I LLC Invests $1.09 Million in Loews Co. (NYSE:L)

MBB Public Markets I LLC purchased a new stake in Loews Co. (NYSE:L) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 14,554 shares of the insurance provider’s stock, valued at approximately $1,088,000.

A number of other institutional investors have also modified their holdings of the business. Wellington Management Group LLP lifted its stake in Loews by 0.7% in the fourth quarter. Wellington Management Group LLP now owns 20,526 shares of the insurance provider’s stock valued at $1,428,000 after buying an additional 145 shares during the last quarter. Optas LLC lifted its position in Loews by 1.9% in the 2nd quarter. Optas LLC now owns 8,086 shares of the insurance provider’s stock valued at $604,000 after purchasing an additional 151 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in Loews by 3.4% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,003 shares of the insurance provider’s stock valued at $392,000 after purchasing an additional 164 shares during the period. Sequoia Financial Advisors LLC grew its position in Loews by 6.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,195 shares of the insurance provider’s stock worth $239,000 after purchasing an additional 186 shares during the last quarter. Finally, Empirical Finance LLC increased its stake in shares of Loews by 3.2% in the first quarter. Empirical Finance LLC now owns 7,222 shares of the insurance provider’s stock valued at $565,000 after purchasing an additional 222 shares during the period. Institutional investors own 58.33% of the company’s stock.

Loews Stock Up 0.2 %

Loews stock opened at $79.05 on Tuesday. Loews Co. has a 52 week low of $61.43 and a 52 week high of $83.54. The stock has a market cap of $17.50 billion, a price-to-earnings ratio of 11.73 and a beta of 0.82. The company’s 50-day moving average price is $79.10 and its two-hundred day moving average price is $77.13. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, July 29th. The insurance provider reported $1.67 EPS for the quarter. The business 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 Announces Dividend

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

Insider Activity

In other news, Director Ann E. Berman sold 1,087 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the completion of the transaction, the director now owns 4,998 shares in the company, valued at approximately $406,737.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Ann E. Berman sold 1,087 shares of the business’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 value of $88,460.06. Following the sale, the director now directly owns 4,998 shares in the company, valued at approximately $406,737.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark S. Schwartz sold 2,628 shares of the business’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 completion of the sale, the vice president now owns 14,933 shares in the company, valued at $1,207,781.04. The disclosure for this sale can be found here. Insiders sold a total of 91,215 shares of company stock worth $7,399,013 over the last 90 days. 18.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

L has been the subject of several analyst reports. Jefferies Financial Group reduced their price objective on Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Royal Bank of Canada upgraded Loews to a “moderate buy” rating in a research report on Friday, July 26th.

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.