Loews Co. (NYSE:L) Shares Purchased by abrdn plc

abrdn plc increased its position in Loews Co. (NYSE:L) by 12.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,722 shares of the insurance provider’s stock after buying an additional 6,779 shares during the quarter. abrdn plc’s holdings in Loews were worth $4,777,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased 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 in the last quarter. Swedbank AB acquired a new stake in shares of Loews in the first quarter valued at about $23,646,000. TD Asset Management Inc raised its holdings in shares of Loews by 77.9% during the 2nd 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 during the period. Bank of Montreal Can lifted its position in Loews by 106.3% during the 2nd quarter. Bank of Montreal Can now owns 353,160 shares of the insurance provider’s stock worth $27,338,000 after acquiring an additional 182,009 shares in the last quarter. Finally, Lee Danner & Bass Inc. purchased a new position in Loews in the 2nd quarter worth approximately $13,379,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Price Performance

L stock opened at $79.27 on Monday. The stock’s 50 day moving average is $79.70 and its two-hundred day moving average is $77.71. Loews Co. has a 52-week low of $64.48 and a 52-week high of $83.54. The company has a market capitalization of $17.40 billion, a PE ratio of 11.61 and a beta of 0.82. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Wednesday, August 21st were issued a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.25 annualized dividend and a yield of 0.32%. Loews’s dividend payout ratio is presently 3.66%.

Insider Buying and Selling at Loews

In related news, insider Jonathan M. Tisch sold 25,000 shares of Loews stock in a transaction dated 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 transaction, the insider now directly owns 461,395 shares in the company, valued at approximately $37,751,338.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Loews news, Director Ann E. Berman sold 1,087 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the sale, the director now directly owns 4,998 shares of the company’s stock, valued at approximately $406,737.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan M. Tisch sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the completion of the transaction, the insider now owns 461,395 shares in the company, valued at approximately $37,751,338.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 88,587 shares of company stock worth $7,186,460 in the last ninety days. 18.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Loews 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.