D. E. Shaw & Co. Inc. Has $33.42 Million Holdings in Loews Co. (NYSE:L)

D. E. Shaw & Co. Inc. decreased its position in shares of Loews Co. (NYSE:L) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 447,158 shares of the insurance provider’s stock after selling 3,364 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.20% of Loews worth $33,421,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Loews by 2.5% in the first quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider’s stock worth $1,656,376,000 after purchasing an additional 507,513 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Loews by 1.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,259,802 shares of the insurance provider’s stock worth $255,210,000 after buying an additional 37,953 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Loews by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider’s stock valued at $199,858,000 after acquiring an additional 161,810 shares in the last quarter. Northern Trust Corp lifted its position in shares of Loews by 11.9% during the 4th quarter. Northern Trust Corp now owns 2,503,105 shares of the insurance provider’s stock valued at $174,191,000 after acquiring an additional 266,729 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Loews by 5.8% during the second quarter. AQR Capital Management LLC now owns 820,800 shares of the insurance provider’s stock worth $61,347,000 after acquiring an additional 45,237 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on L shares. Royal Bank of Canada upgraded shares of Loews to a “moderate buy” rating in a report on Friday, July 26th. Jefferies Financial Group dropped their price target on 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 opened at $78.90 on Friday. Loews Co. has a 1-year low of $61.43 and a 1-year high of $83.54. The company has a market cap of $17.47 billion, a price-to-earnings ratio of 11.71 and a beta of 0.82. The company’s fifty day moving average price is $79.08 and its two-hundred day moving average price is $77.10. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50.

Loews (NYSE:L) last posted its earnings results on Monday, July 29th. The insurance provider reported $1.67 earnings per share 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 business also recently declared 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 was Wednesday, August 21st. This represents a $0.25 annualized dividend and a yield of 0.32%. Loews’s dividend payout ratio (DPR) is currently 3.71%.

Insider Buying and Selling

In other news, Director Ann E. Berman sold 1,087 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total value of $88,460.06. Following the completion of the sale, the director now owns 4,998 shares in the company, valued at $406,737.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 stock was sold at an average price of $81.38, for a total value 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Mark S. Schwartz sold 2,628 shares of the 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 sale, the vice president now directly owns 14,933 shares of the company’s stock, valued at $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 worth $7,399,013. 18.70% of the stock is owned by corporate insiders.

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.