Loews Co. (NYSE:L) Position Raised by AQR Capital Management LLC

AQR Capital Management LLC raised its position in shares of Loews Co. (NYSE:L) by 5.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 820,800 shares of the insurance provider’s stock after purchasing an additional 45,237 shares during the quarter. AQR Capital Management LLC’s holdings in Loews were worth $61,347,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of L. Versant Capital Management Inc raised its holdings in shares of Loews by 244.0% in the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 266 shares in the last quarter. Family Firm Inc. bought a new position in shares of Loews in the second quarter valued at $46,000. Able Wealth Management LLC acquired a new stake in shares of Loews during the 4th quarter valued at $48,000. Innealta Capital LLC acquired a new stake in shares of Loews during the 2nd quarter valued at $51,000. Finally, Blue Trust Inc. boosted its stake in shares of Loews by 80.9% during 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. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Loews

In other Loews news, VP Mark S. Schwartz sold 2,628 shares of Loews stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $80.88, for a total transaction of $212,552.64. Following the completion of the sale, the vice president now owns 14,933 shares of the company’s stock, valued at approximately $1,207,781.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Jonathan M. Tisch sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.82, for a total value of $2,045,500.00. Following the completion of the sale, the insider now owns 461,395 shares of the company’s stock, valued at approximately $37,751,338.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Mark S. Schwartz sold 2,628 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $80.88, for a total value of $212,552.64. Following the completion of 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 91,215 shares of company stock valued at $7,399,013 over the last three months. 18.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

L has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their target price 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 Loews to a “moderate buy” rating in a report on Friday, July 26th.

Loews Trading Up 0.3 %

NYSE L opened at $78.91 on Friday. The firm’s 50 day moving average price is $79.06 and its two-hundred day moving average price is $77.08. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. Loews Co. has a twelve month low of $61.43 and a twelve month high of $83.54. The stock has a market cap of $17.47 billion, a price-to-earnings ratio of 11.71 and a beta of 0.82.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, July 29th. The insurance provider reported $1.67 earnings per share for the quarter. The business 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.32%. Loews’s dividend payout ratio is 3.71%.

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.