Eastern Bank Invests $47,000 in Loews Co. (NYSE:L)

Eastern Bank bought a new stake in shares of Loews Co. (NYSE:L) in the 3rd quarter, Holdings Channel.com reports. The firm bought 600 shares of the insurance provider’s stock, valued at approximately $47,000.

Other large investors have also bought and sold shares of the company. Versant Capital Management Inc lifted its holdings in shares of Loews by 244.0% during the second quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 266 shares during the last quarter. Kimelman & Baird LLC purchased a new stake in shares of Loews during the second quarter valued at $45,000. Family Firm Inc. purchased a new stake in Loews in the 2nd quarter worth about $46,000. Innealta Capital LLC purchased a new stake in Loews in the 2nd quarter worth about $51,000. Finally, Blue Trust Inc. lifted its stake in Loews by 80.9% in the 2nd quarter. Blue Trust Inc. now owns 693 shares of the insurance provider’s stock worth $54,000 after acquiring an additional 310 shares in the last quarter. Institutional investors own 58.33% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on L shares. Royal Bank of Canada raised Loews to a “moderate buy” rating in a research note on Friday, July 26th. Jefferies Financial Group cut their price target on Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st.

Insiders Place Their Bets

In other Loews news, Director Ann E. Berman sold 1,087 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total value of $88,460.06. Following the completion of the sale, the director now owns 4,998 shares in the company, valued at approximately $406,737.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Loews news, insider Jonathan M. Tisch sold 62,500 shares of Loews 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 completion of the transaction, the insider now owns 6,781,634 shares in the company, valued at approximately $548,227,292.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ann E. Berman sold 1,087 shares of Loews stock in a transaction 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 completion of the transaction, the director now owns 4,998 shares of the company’s stock, valued at approximately $406,737.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,215 shares of company stock worth $7,399,013. 18.70% of the stock is currently owned by company insiders.

Loews Stock Performance

Shares of NYSE L opened at $79.57 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The firm has a market cap of $17.47 billion, a price-to-earnings ratio of 11.65 and a beta of 0.81. The business’s 50-day simple moving average is $79.67 and its 200-day simple moving average is $77.46. Loews Co. has a 52 week low of $62.18 and a 52 week high of $83.54.

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

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 21st were given 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 0.31%. Loews’s dividend payout ratio is currently 3.66%.

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.