Loews Co. (NYSE:L) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. grew its holdings in Loews Co. (NYSE:L) by 6.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,306 shares of the insurance provider’s stock after buying an additional 5,085 shares during the quarter. American Century Companies Inc.’s holdings in Loews were worth $5,927,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc increased its stake in Loews by 244.0% in the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 266 shares in the last quarter. Family Firm Inc. purchased a new position in Loews in the 2nd quarter valued at approximately $46,000. Able Wealth Management LLC purchased a new position in Loews in the 4th quarter valued at approximately $48,000. Innealta Capital LLC purchased a new position in Loews in the 2nd quarter valued at approximately $51,000. Finally, Blue Trust Inc. increased its stake in Loews by 80.9% in the 2nd quarter. Blue Trust Inc. now owns 693 shares of the insurance provider’s stock valued at $54,000 after purchasing an additional 310 shares in the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Loews

In other news, insider Jonathan M. Tisch sold 62,500 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $80.84, for a total transaction of $5,052,500.00. Following the sale, the insider now owns 6,781,634 shares in the company, valued at $548,227,292.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Ann E. Berman sold 1,087 shares of Loews stock in a transaction on Tuesday, September 3rd. The stock was 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 in the company, valued at $406,737.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan M. Tisch sold 62,500 shares of Loews stock in a transaction on 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 transaction, the insider now owns 6,781,634 shares in the company, valued at approximately $548,227,292.56. 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 quarter. 18.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Loews Stock Performance

Loews stock opened at $78.16 on Wednesday. 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 stock has a fifty day moving average of $79.11 and a two-hundred day moving average of $77.06. The company has a market capitalization of $17.31 billion, a price-to-earnings ratio of 11.60 and a beta of 0.82. Loews Co. has a fifty-two week low of $61.43 and a fifty-two week high of $83.54.

Loews (NYSE:L) last posted 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 business had revenue of $4.27 billion for the quarter.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st were issued 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 of this dividend was Wednesday, August 21st. Loews’s dividend payout ratio (DPR) is 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.