Loews Co. (NYSE:L) Holdings Boosted by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its position in shares of Loews Co. (NYSE:L) by 1.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 132,673 shares of the insurance provider’s stock after purchasing an additional 1,715 shares during the period. Public Sector Pension Investment Board owned 0.06% of Loews worth $9,916,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of L. Versant Capital Management Inc boosted its holdings 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 valued at $28,000 after acquiring an additional 266 shares in the last quarter. Principal Securities Inc. acquired a new position in Loews in the fourth quarter worth approximately $38,000. Family Firm Inc. acquired a new stake in shares of Loews during the second quarter valued at approximately $46,000. Able Wealth Management LLC acquired a new stake in shares of Loews in the fourth quarter worth $48,000. Finally, Innealta Capital LLC acquired a new position in Loews during the second quarter valued at $51,000. Institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling at Loews

In other news, Director Ann E. Berman sold 1,087 shares of the company’s 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 transaction, the director now directly owns 4,998 shares in the company, valued at $406,737.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Loews news, 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 value of $212,552.64. Following the completion of the sale, the vice president now owns 14,933 shares of the company’s stock, valued at $1,207,781.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 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 approximately $406,737.24. The disclosure for this sale can be found here. Insiders have sold 91,215 shares of company stock worth $7,399,013 over the last three months. Company insiders own 18.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on L. Royal Bank of Canada upgraded shares of Loews to a “moderate buy” rating in a research note on Friday, July 26th. Jefferies Financial Group lowered their target price on shares of Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st.

Loews Stock Up 0.2 %

L stock opened at $78.68 on Tuesday. The stock has a market capitalization of $17.42 billion, a price-to-earnings ratio of 11.67 and a beta of 0.82. The company has a 50-day moving average of $79.12 and a two-hundred day moving average of $77.04. Loews Co. has a 52-week low of $61.43 and a 52-week high of $83.54. 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 (NYSE:L) last issued its quarterly earnings results on Monday, July 29th. The insurance provider reported $1.67 EPS for the quarter. The company 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st were paid a $0.0625 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $0.25 annualized dividend and a dividend yield of 0.32%. 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.