Loews Co. (NYSE:L) Position Cut by Park Avenue Securities LLC

Park Avenue Securities LLC cut its stake in shares of Loews Co. (NYSE:L) by 6.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,867 shares of the insurance provider’s stock after selling 356 shares during the quarter. Park Avenue Securities LLC’s holdings in Loews were worth $385,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Loews by 2.5% in the first quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider’s stock valued at $1,656,376,000 after purchasing an additional 507,513 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Loews by 1.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,259,802 shares of the insurance provider’s stock valued at $255,210,000 after acquiring an additional 37,953 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Loews by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider’s stock valued at $199,858,000 after acquiring an additional 161,810 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Loews by 5.8% in the second quarter. AQR Capital Management LLC now owns 820,800 shares of the insurance provider’s stock valued at $61,347,000 after acquiring an additional 45,237 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Loews by 5.0% in the second 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. 58.33% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Mark S. Schwartz sold 2,628 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $80.88, for a total transaction of $212,552.64. Following the transaction, the vice president now directly owns 14,933 shares of the company’s stock, valued at approximately $1,207,781.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Jonathan M. Tisch sold 25,000 shares of Loews stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the transaction, the insider now owns 461,395 shares in the company, valued at approximately $37,751,338.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark S. Schwartz sold 2,628 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $80.88, for a total transaction of $212,552.64. Following the completion of the transaction, the vice president now owns 14,933 shares in the company, valued at approximately $1,207,781.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,215 shares of company stock valued at $7,399,013. 18.70% of the stock is owned by company insiders.

Loews Stock Performance

L stock opened at $79.35 on Friday. 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 price of $78.96 and a 200 day moving average price of $77.21. Loews Co. has a fifty-two week low of $62.18 and a fifty-two week high of $83.54. The stock has a market capitalization of $17.57 billion, a PE ratio of 11.77 and a beta of 0.81.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, July 29th. The insurance provider reported $1.67 earnings per share (EPS) for the quarter. The company 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. Stockholders of record on Wednesday, August 21st were issued a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.32%. Loews’s payout ratio is 3.71%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group cut their target price 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. Royal Bank of Canada upgraded shares of Loews to a “moderate buy” rating in a research report on Friday, July 26th.

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.