Renaissance Technologies LLC Sells 76,787 Shares of Loews Co. (NYSE:L)

Renaissance Technologies LLC trimmed its position in shares of Loews Co. (NYSE:L) by 67.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,513 shares of the insurance provider’s stock after selling 76,787 shares during the quarter. Renaissance Technologies LLC’s holdings in Loews were worth $2,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised 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 worth $1,656,376,000 after purchasing an additional 507,513 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Loews by 1.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,259,802 shares of the insurance provider’s stock worth $255,210,000 after buying an additional 37,953 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Loews by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider’s stock worth $199,858,000 after buying an additional 161,810 shares in the last quarter. Northern Trust Corp increased its stake in Loews by 11.9% in the 4th quarter. Northern Trust Corp now owns 2,503,105 shares of the insurance provider’s stock worth $174,191,000 after buying an additional 266,729 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in Loews by 77.9% in the 2nd quarter. TD Asset Management Inc now owns 525,920 shares of the insurance provider’s stock worth $39,307,000 after buying an additional 230,231 shares in the last quarter. 58.33% of the stock is owned by institutional investors.

Loews Trading Up 0.2 %

Shares of Loews stock opened at $79.05 on Tuesday. The firm has a market cap of $17.50 billion, a price-to-earnings ratio of 11.73 and a beta of 0.82. The business has a 50-day moving average price of $79.10 and a 200-day moving average price of $77.13. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a twelve month low of $61.43 and a twelve month high of $83.54.

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

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.32%. Loews’s payout ratio is 3.71%.

Wall Street Analyst Weigh In

L has been the subject of a number of analyst reports. Jefferies Financial Group cut their price target on Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Royal Bank of Canada upgraded Loews to a “moderate buy” rating in a research note on Friday, July 26th.

Insider Buying and Selling

In related news, insider Jonathan M. Tisch sold 62,500 shares of Loews stock in a transaction dated Thursday, September 5th. The stock was 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 in the company, valued at $548,227,292.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Jonathan C. Locker acquired 6,200 shares of the firm’s stock in a transaction 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 completion of the purchase, the director now directly owns 23,068 shares in the company, valued at $1,859,972.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan M. Tisch sold 62,500 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $80.84, for a total transaction of $5,052,500.00. Following the completion of the sale, the insider now directly owns 6,781,634 shares of the company’s stock, valued at approximately $548,227,292.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,215 shares of company stock worth $7,399,013. Corporate insiders own 18.70% of the company’s stock.

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.