Intech Investment Management LLC Has $9.52 Million Stock Holdings in Loews Co. (NYSE:L)

Intech Investment Management LLC grew its stake in shares of Loews Co. (NYSE:L) by 46.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 127,353 shares of the insurance provider’s stock after purchasing an additional 40,486 shares during the period. Intech Investment Management LLC owned approximately 0.06% of Loews worth $9,518,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Versant Capital Management Inc raised its holdings in Loews by 244.0% during the second quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock worth $28,000 after buying an additional 266 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Loews in the 4th quarter worth about $38,000. Family Firm Inc. acquired a new stake in shares of Loews in the 2nd quarter worth about $46,000. Able Wealth Management LLC bought a new position in Loews in the 4th quarter valued at about $48,000. Finally, Innealta Capital LLC acquired a new position in Loews during the 2nd quarter valued at about $51,000. Institutional investors own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Loews news, 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 transaction of $88,460.06. Following the completion of the transaction, the director now directly owns 4,998 shares of the company’s stock, valued at $406,737.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Loews news, Director Jonathan C. Locker purchased 6,200 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were bought at an average cost of $80.63 per share, for a total transaction of $499,906.00. Following the purchase, the director now owns 23,068 shares of the company’s stock, valued at approximately $1,859,972.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann E. Berman sold 1,087 shares of Loews stock in a transaction that occurred 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 completion of the transaction, the director now owns 4,998 shares of the company’s stock, valued at $406,737.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,215 shares of company stock valued at $7,399,013. Company insiders own 18.70% of the company’s stock.

Loews Price Performance

Loews stock opened at $78.54 on Friday. The stock has a market cap of $17.39 billion, a P/E ratio of 11.65 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. The company’s 50 day moving average price is $79.09 and its two-hundred day moving average price is $76.98. Loews Co. has a 52 week low of $61.43 and a 52 week high of $83.54.

Loews (NYSE:L) last announced 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 during the quarter.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Wednesday, August 21st were issued 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 yield of 0.32%. Loews’s dividend payout ratio (DPR) is presently 3.71%.

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.