Loews Co. (NYSE:L) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its position in Loews Co. (NYSE:L) by 12.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 194,677 shares of the insurance provider’s stock after acquiring an additional 21,000 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.09% of Loews worth $14,550,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP boosted its stake in Loews by 0.7% in the fourth quarter. Wellington Management Group LLP now owns 20,526 shares of the insurance provider’s stock valued at $1,428,000 after acquiring an additional 145 shares during the period. Optas LLC grew its stake in Loews by 1.9% during the 2nd quarter. Optas LLC now owns 8,086 shares of the insurance provider’s stock worth $604,000 after buying an additional 151 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in Loews by 3.4% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,003 shares of the insurance provider’s stock worth $392,000 after buying an additional 164 shares during the period. Sequoia Financial Advisors LLC lifted its stake in Loews by 6.2% in the second quarter. Sequoia Financial Advisors LLC now owns 3,195 shares of the insurance provider’s stock valued at $239,000 after buying an additional 186 shares during the last quarter. Finally, Empirical Finance LLC boosted its holdings in shares of Loews by 3.2% during the first quarter. Empirical Finance LLC now owns 7,222 shares of the insurance provider’s stock valued at $565,000 after acquiring an additional 222 shares during the period. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Price Performance

Shares of L opened at $78.68 on Tuesday. Loews Co. has a one year low of $61.43 and a one year high of $83.54. The stock’s fifty day moving average is $79.12 and its 200-day moving average is $77.04. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The firm has a market capitalization of $17.42 billion, a price-to-earnings ratio of 11.67 and a beta of 0.82.

Loews (NYSE:L) last released 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 for the quarter. Loews had a net margin of 9.14% and a return on equity of 9.26%.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.32%. The ex-dividend date was Wednesday, August 21st. Loews’s dividend payout ratio (DPR) is presently 3.71%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in 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 report on Wednesday, July 31st. Royal Bank of Canada raised Loews to a “moderate buy” rating in a report on Friday, July 26th.

Insider Transactions at Loews

In other Loews news, insider Jonathan M. Tisch sold 62,500 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $80.84, for a total value of $5,052,500.00. Following the completion of the sale, the insider now directly owns 6,781,634 shares of the company’s stock, valued at approximately $548,227,292.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jonathan M. Tisch sold 25,000 shares of Loews stock in a transaction on 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 transaction, the insider now directly owns 461,395 shares in the company, valued at approximately $37,751,338.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan M. Tisch sold 62,500 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $80.84, for a total value of $5,052,500.00. Following the sale, the insider now directly owns 6,781,634 shares in the company, valued at $548,227,292.56. The disclosure for this sale can be found here. In the last 90 days, insiders have 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.