O Keefe Stevens Advisory Inc. Trims Stock Position in Loews Co. (NYSE:L)

O Keefe Stevens Advisory Inc. lowered its position in shares of Loews Co. (NYSE:L) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 163,534 shares of the insurance provider’s stock after selling 1,254 shares during the period. Loews comprises about 3.9% of O Keefe Stevens Advisory Inc.’s holdings, making the stock its 8th largest holding. O Keefe Stevens Advisory Inc. owned approximately 0.07% of Loews worth $12,927,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Loews by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider’s stock valued at $1,656,376,000 after purchasing an additional 507,513 shares during the last quarter. Swedbank AB bought a new position in shares of Loews during the first quarter valued at about $23,646,000. TD Asset Management Inc increased its holdings in shares of Loews by 77.9% in the second quarter. TD Asset Management Inc now owns 525,920 shares of the insurance provider’s stock worth $39,307,000 after buying an additional 230,231 shares during the period. Bank of Montreal Can lifted its stake in shares of Loews by 106.3% in the 2nd quarter. Bank of Montreal Can now owns 353,160 shares of the insurance provider’s stock valued at $27,338,000 after acquiring an additional 182,009 shares during the last quarter. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Loews in the 2nd quarter valued at about $13,379,000. Institutional investors own 58.33% of the company’s stock.

Wall Street Analysts Forecast Growth

L has been the topic of several recent research reports. Jefferies Financial Group reduced their price target on Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Royal Bank of Canada raised shares of Loews to a “moderate buy” rating in a research note on Friday, July 26th.

Loews Stock Performance

Loews stock opened at $77.31 on Wednesday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The firm has a market cap of $17.12 billion, a P/E ratio of 11.47 and a beta of 0.81. Loews Co. has a 1-year low of $62.18 and a 1-year high of $83.54. The firm has a 50-day moving average of $79.06 and a 200-day moving average of $77.17.

Loews (NYSE:L) last released its quarterly earnings data on Monday, July 29th. The insurance provider reported $1.67 earnings per share 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 during the quarter.

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 $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.32%. The ex-dividend date was Wednesday, August 21st. Loews’s dividend payout ratio (DPR) is currently 3.71%.

Insider Buying and Selling at Loews

In related news, Director Jonathan C. Locker acquired 6,200 shares of the stock in a transaction on Tuesday, July 30th. The stock was acquired at an average cost of $80.63 per share, for a total transaction of $499,906.00. Following the completion of the acquisition, the director now directly owns 23,068 shares of the company’s stock, valued at approximately $1,859,972.84. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 sale, the insider now directly owns 6,781,634 shares of the company’s stock, valued at $548,227,292.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan C. Locker purchased 6,200 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was acquired 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 $1,859,972.84. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 91,215 shares of company stock valued at $7,399,013. 18.70% of the stock is currently owned by company insiders.

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.