Elo Mutual Pension Insurance Co Sells 1,413 Shares of Loews Co. (NYSE:L)

Elo Mutual Pension Insurance Co cut its stake in Loews Co. (NYSE:L) by 8.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,877 shares of the insurance provider’s stock after selling 1,413 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Loews were worth $1,187,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Principal Securities Inc. bought a new stake in Loews during the fourth quarter valued at approximately $38,000. Janney Montgomery Scott LLC grew its position in Loews by 79.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 12,043 shares of the insurance provider’s stock valued at $838,000 after buying an additional 5,332 shares during the period. PNC Financial Services Group Inc. grew its position in Loews by 11.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 25,066 shares of the insurance provider’s stock valued at $1,744,000 after buying an additional 2,625 shares during the period. UBS Group AG grew its position in Loews by 60.0% during the fourth quarter. UBS Group AG now owns 555,768 shares of the insurance provider’s stock valued at $38,676,000 after buying an additional 208,356 shares during the period. Finally, Wells Fargo & Company MN grew its position in Loews by 8.1% during the fourth quarter. Wells Fargo & Company MN now owns 196,732 shares of the insurance provider’s stock valued at $13,691,000 after buying an additional 14,820 shares during the period. 58.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Loews

In other news, VP Mark S. Schwartz sold 2,628 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $1,207,781.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Ann E. Berman sold 1,087 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were 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 of the company’s stock, valued at $406,737.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Mark S. Schwartz sold 2,628 shares of the business’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 14,933 shares in the company, valued at approximately $1,207,781.04. 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 90 days. 18.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Loews Price Performance

Shares of NYSE:L opened at $78.54 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. Loews Co. has a 1-year low of $61.43 and a 1-year high of $83.54. The company has a market capitalization of $17.39 billion, a P/E ratio of 11.65 and a beta of 0.82. The firm’s 50 day simple moving average is $79.09 and its two-hundred day simple moving average is $76.98.

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. Loews had a net margin of 9.14% and a return on equity of 9.26%. The business had revenue of $4.27 billion for the quarter.

Loews Announces Dividend

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