Loews Co. (NYSE:L) Stock Position Trimmed by Caprock Group LLC

Caprock Group LLC cut its position in Loews Co. (NYSE:L) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,407 shares of the insurance provider’s stock after selling 287 shares during the quarter. Caprock Group LLC’s holdings in Loews were worth $1,692,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of L. Versant Capital Management Inc raised its position in shares of 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 in the last quarter. Kimelman & Baird LLC bought a new stake in shares of Loews during the 2nd quarter worth about $45,000. Family Firm Inc. bought a new stake in shares of Loews during the 2nd quarter worth about $46,000. Eastern Bank bought a new stake in shares of Loews during the 3rd quarter worth about $47,000. Finally, Innealta Capital LLC bought a new stake in shares of Loews during the 2nd quarter worth about $51,000. 58.33% of the stock is currently owned by institutional investors.

Insider Transactions at Loews

In related news, insider Jonathan M. Tisch sold 25,000 shares of the company’s 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 completion of the sale, the insider now directly owns 461,395 shares of the company’s stock, valued at approximately $37,751,338.90. This represents a 5.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann E. Berman sold 1,087 shares of the company’s stock in a transaction on 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 directly owns 4,998 shares of the company’s stock, valued at approximately $406,737.24. This represents a 17.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 213,587 shares of company stock worth $17,586,460 in the last 90 days. 18.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. StockNews.com downgraded shares of Loews from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Royal Bank of Canada raised shares of Loews to a “moderate buy” rating in a research note on Friday, July 26th. Finally, Jefferies Financial Group lowered their price objective on shares of Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st.

Loews Stock Up 0.4 %

Loews stock opened at $84.49 on Thursday. The firm has a market cap of $18.40 billion, a PE ratio of 11.22 and a beta of 0.82. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. The firm’s 50 day moving average price is $80.14 and its two-hundred day moving average price is $78.29. Loews Co. has a twelve month low of $67.20 and a twelve month high of $84.68.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.0625 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.25 annualized dividend and a dividend yield of 0.30%. Loews’s dividend payout ratio (DPR) is 3.32%.

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.