Loews Co. (NYSE:L) Shares Sold by Castleview Partners LLC

Castleview Partners LLC trimmed its stake in shares of Loews Co. (NYSE:L) by 20.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 765 shares of the insurance provider’s stock after selling 196 shares during the quarter. Castleview Partners LLC’s holdings in Loews were worth $60,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its stake in shares of Loews by 2.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,183,138 shares of the insurance provider’s stock worth $251,627,000 after acquiring an additional 69,459 shares during the period. Raymond James & Associates increased its position in Loews by 2.4% during the 3rd quarter. Raymond James & Associates now owns 39,398 shares of the insurance provider’s stock worth $3,114,000 after purchasing an additional 920 shares during the period. Blue Trust Inc. raised its stake in shares of Loews by 240.5% during the 3rd quarter. Blue Trust Inc. now owns 2,360 shares of the insurance provider’s stock worth $176,000 after buying an additional 1,667 shares in the last quarter. Aaron Wealth Advisors LLC lifted its holdings in shares of Loews by 11.4% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 3,372 shares of the insurance provider’s stock valued at $267,000 after buying an additional 344 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Loews by 1.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,060 shares of the insurance provider’s stock valued at $1,744,000 after buying an additional 412 shares in the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on L shares. Jefferies Financial Group reduced their target price on Loews from $115.00 to $112.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada raised shares of Loews to a “moderate buy” rating in a report on Friday, July 26th.

Insiders Place Their Bets

In other news, insider Jonathan M. Tisch sold 62,500 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $80.84, for a total value of $5,052,500.00. Following the sale, the insider now directly owns 6,781,634 shares in the company, valued at $548,227,292.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jonathan C. Locker bought 6,200 shares of the stock in a transaction on Tuesday, July 30th. The stock was purchased at an average cost 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 trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Jonathan M. Tisch sold 62,500 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $80.84, for a total value 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,215 shares of company stock valued at $7,399,013. Corporate insiders own 18.70% of the company’s stock.

Loews Trading Down 0.9 %

Shares of L stock opened at $81.06 on Tuesday. Loews Co. has a fifty-two week low of $62.18 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. The business has a fifty day simple moving average of $79.46 and a 200-day simple moving average of $77.35. The stock has a market cap of $17.95 billion, a P/E ratio of 12.03 and a beta of 0.81.

Loews (NYSE:L) last announced its 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 business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 21st were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend was Wednesday, August 21st. Loews’s dividend payout ratio (DPR) is presently 3.71%.

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.