Mercer Global Advisors Inc. ADV Has $7.32 Million Holdings in Loews Co. (NYSE:L)

Mercer Global Advisors Inc. ADV boosted its holdings in shares of Loews Co. (NYSE:L) by 5.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,923 shares of the insurance provider’s stock after purchasing an additional 4,716 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Loews were worth $7,319,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

L has been the topic of several research reports. Royal Bank of Canada raised Loews to a “moderate buy” rating in a research note on Friday, July 26th. Jefferies Financial Group reduced their target price 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.

Loews Stock Performance

L stock opened at $78.54 on Friday. Loews Co. has a twelve month low of $61.43 and a twelve month high of $83.54. 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 has a market cap of $17.39 billion, a P/E ratio of 11.65 and a beta of 0.82. The business’s fifty day moving average is $79.09 and its 200-day moving average is $76.98.

Loews (NYSE:L) last released its earnings results on Monday, July 29th. The insurance provider reported $1.67 earnings per share for the quarter. The firm 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 company 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. This represents a $0.25 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date was Wednesday, August 21st. Loews’s dividend payout ratio is currently 3.71%.

Insider Buying and Selling at Loews

In related news, VP Mark S. Schwartz sold 2,628 shares of the firm’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 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 accessible through this link. In related news, Director Jonathan C. Locker purchased 6,200 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were purchased 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 owns 23,068 shares in the company, valued at approximately $1,859,972.84. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Mark S. Schwartz sold 2,628 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now owns 14,933 shares of the company’s stock, valued at approximately $1,207,781.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,215 shares of company stock valued at $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.