Truist Financial Corp Has $267,000 Stake in Loews Co. (NYSE:L)

Truist Financial Corp reduced its stake in shares of Loews Co. (NYSE:L) by 66.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,578 shares of the insurance provider’s stock after selling 7,243 shares during the quarter. Truist Financial Corp’s holdings in Loews were worth $267,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Versant Capital Management Inc raised its stake in Loews by 244.0% during the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock worth $28,000 after buying an additional 266 shares during the period. Kimelman & Baird LLC acquired a new stake in shares of Loews during the second quarter worth about $45,000. Family Firm Inc. acquired a new stake in shares of Loews during the second quarter worth about $46,000. Innealta Capital LLC bought a new position in shares of Loews during the 2nd quarter valued at about $51,000. Finally, Blue Trust Inc. grew its position in shares of Loews by 80.9% in the 2nd quarter. Blue Trust Inc. now owns 693 shares of the insurance provider’s stock valued at $54,000 after purchasing an additional 310 shares during the period. 58.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on L shares. Jefferies Financial Group lowered their target price on 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 report on Friday, July 26th.

Loews Stock Up 0.1 %

L stock opened at $81.82 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 stock has a market capitalization of $18.12 billion, a P/E ratio of 12.14 and a beta of 0.81. Loews Co. has a fifty-two week low of $62.18 and a fifty-two week high of $83.54. The business has a 50-day moving average of $79.38 and a 200-day moving average of $77.32.

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

Loews Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date was Wednesday, August 21st. Loews’s dividend payout ratio (DPR) is currently 3.71%.

Insider Buying and Selling at Loews

In related news, Director Ann E. Berman sold 1,087 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total transaction of $88,460.06. Following the sale, the director now owns 4,998 shares in the company, valued at approximately $406,737.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Ann E. Berman sold 1,087 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the transaction, the director now directly owns 4,998 shares in the company, valued at approximately $406,737.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Mark S. Schwartz sold 2,628 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 14,933 shares in the company, valued at $1,207,781.04. This trade represents a 0.00 % decrease in their ownership of the stock. 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. Insiders own 18.70% of the company’s stock.

Loews 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.