DoubleLine ETF Adviser LP Sells 140 Shares of Loews Co. (NYSE:L)

DoubleLine ETF Adviser LP lessened its holdings in Loews Co. (NYSE:L) by 4.0% during the second quarter, HoldingsChannel.com reports. The firm owned 3,357 shares of the insurance provider’s stock after selling 140 shares during the period. DoubleLine ETF Adviser LP’s holdings in Loews were worth $251,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Versant Capital Management Inc increased its stake in Loews by 244.0% in the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock valued at $28,000 after buying an additional 266 shares during the last quarter. Family Firm Inc. bought a new position in shares of Loews in the 2nd quarter valued at about $46,000. Able Wealth Management LLC acquired a new stake in shares of Loews in the fourth quarter valued at about $48,000. Innealta Capital LLC bought a new stake in Loews during the second quarter worth about $51,000. Finally, Blue Trust Inc. boosted its position in Loews by 80.9% during the second quarter. Blue Trust Inc. now owns 693 shares of the insurance provider’s stock valued at $54,000 after purchasing an additional 310 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Stock Up 0.9 %

Shares of L stock opened at $78.73 on Friday. Loews Co. has a 52-week low of $61.43 and a 52-week high of $83.54. 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 stock has a market cap of $17.43 billion, a price-to-earnings ratio of 11.68 and a beta of 0.82. The firm’s 50-day moving average is $79.08 and its 200-day moving average is $77.07.

Loews (NYSE:L) last released its quarterly earnings data on Monday, July 29th. The insurance provider reported $1.67 earnings per share (EPS) 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 for the quarter.

Loews Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on L shares. Jefferies Financial Group lowered 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. Royal Bank of Canada upgraded shares of Loews to a “moderate buy” rating in a report on Friday, July 26th.

Insider Activity

In related news, Director Jonathan C. Locker acquired 6,200 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was purchased at an average cost of $80.63 per share, for a total transaction of $499,906.00. Following the completion of the transaction, the director now directly owns 23,068 shares of the company’s stock, valued at approximately $1,859,972.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Jonathan C. Locker purchased 6,200 shares of Loews stock in a transaction that occurred on Tuesday, July 30th. The stock was acquired at an average cost of $80.63 per share, for a total transaction of $499,906.00. Following the purchase, the director now directly owns 23,068 shares of the company’s stock, valued at approximately $1,859,972.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann E. Berman sold 1,087 shares of the stock in a transaction 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 transaction, the director now owns 4,998 shares in the company, valued at approximately $406,737.24. The disclosure for this sale can be found here. Insiders have sold 91,215 shares of company stock valued at $7,399,013 over the last ninety days. 18.70% of the stock is currently owned by company insiders.

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.