Intech Investment Management LLC Increases Stock Holdings in Loews Co. (NYSE:L)

Intech Investment Management LLC increased its position in Loews Co. (NYSE:L) by 46.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 127,353 shares of the insurance provider’s stock after acquiring an additional 40,486 shares during the quarter. Intech Investment Management LLC’s holdings in Loews were worth $9,518,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc grew 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 valued at $28,000 after purchasing an additional 266 shares in the last quarter. Principal Securities Inc. purchased a new position in Loews during the fourth quarter worth about $38,000. Family Firm Inc. bought a new position in Loews in the 2nd quarter worth about $46,000. Able Wealth Management LLC purchased a new stake in shares of Loews in the 4th quarter valued at about $48,000. Finally, Innealta Capital LLC bought a new stake in shares of Loews during the 2nd quarter valued at about $51,000. Institutional investors own 58.33% of the company’s stock.

Loews Price Performance

Shares of Loews stock opened at $78.54 on Friday. The firm has a market capitalization of $17.39 billion, a PE ratio of 11.65 and a beta of 0.82. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a 12 month low of $61.43 and a 12 month high of $83.54. The business’s 50-day moving average price is $79.09 and its 200-day moving average price is $76.98.

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

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 21st were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.32%. The ex-dividend date was Wednesday, August 21st. Loews’s dividend payout ratio is presently 3.71%.

Insider Buying and Selling at Loews

In related news, VP Mark S. Schwartz sold 2,628 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 14,933 shares in the company, valued at approximately $1,207,781.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Jonathan C. Locker bought 6,200 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was bought at an average cost of $80.63 per share, for a total transaction of $499,906.00. Following the completion of the acquisition, the director now owns 23,068 shares in the company, valued at approximately $1,859,972.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Mark S. Schwartz sold 2,628 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $80.88, for a total value of $212,552.64. Following the transaction, the vice president now owns 14,933 shares in the company, valued at approximately $1,207,781.04. The disclosure for this sale can be found here. Insiders sold a total of 91,215 shares of company stock worth $7,399,013 over the last three months. Company insiders own 18.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Royal Bank of Canada upgraded shares of Loews to a “moderate buy” rating in a research report on Friday, July 26th. 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 report on Wednesday, July 31st.

About Loews

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.