Royal London Asset Management Ltd. Has $7.83 Million Stock Position in Loews Co. (NYSE:L)

Royal London Asset Management Ltd. grew its stake in shares of Loews Co. (NYSE:L) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 104,727 shares of the insurance provider’s stock after acquiring an additional 4,252 shares during the period. Royal London Asset Management Ltd.’s holdings in Loews were worth $7,827,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in L. Norges Bank acquired a new position in shares of Loews in the fourth quarter valued at about $511,159,000. Vanguard Group Inc. boosted its holdings in Loews by 2.5% in the 1st 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 period. Swedbank AB acquired a new position in shares of Loews during the 1st quarter worth approximately $23,646,000. Northern Trust Corp increased its holdings in shares of Loews by 11.9% during the fourth quarter. Northern Trust Corp now owns 2,503,105 shares of the insurance provider’s stock worth $174,191,000 after purchasing an additional 266,729 shares during the period. Finally, TD Asset Management Inc raised its position in shares of Loews by 77.9% in the second quarter. TD Asset Management Inc now owns 525,920 shares of the insurance provider’s stock valued at $39,307,000 after buying an additional 230,231 shares in the last quarter. Institutional investors own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, Director Jonathan C. Locker acquired 6,200 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was acquired at an average price of $80.63 per share, with a total value of $499,906.00. Following the purchase, the director now directly owns 23,068 shares in the company, valued at $1,859,972.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Jonathan C. Locker acquired 6,200 shares of Loews stock in a transaction that occurred on Tuesday, July 30th. The shares were acquired at an average price of $80.63 per share, for a total transaction of $499,906.00. Following the transaction, the director now directly owns 23,068 shares of the company’s stock, valued at approximately $1,859,972.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathan M. Tisch sold 62,500 shares of the stock in a transaction dated Thursday, September 5th. The shares were 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 of the company’s stock, valued at $548,227,292.56. 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. 18.70% of the stock is currently owned by corporate insiders.

Loews Stock Performance

Shares of Loews stock opened at $78.34 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The company has a market cap of $17.20 billion, a PE ratio of 11.62 and a beta of 0.82. The company has a 50 day moving average of $78.76 and a 200-day moving average of $76.84. Loews Co. has a 1-year low of $61.43 and a 1-year 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 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders 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 0.32%. The ex-dividend date of this dividend was Wednesday, August 21st. Loews’s dividend payout ratio is presently 3.71%.

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.