Forsta AP Fonden Purchases 9,300 Shares of Loews Co. (NYSE:L)

Forsta AP Fonden lifted its position in shares of Loews Co. (NYSE:L) by 387.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,700 shares of the insurance provider’s stock after acquiring an additional 9,300 shares during the quarter. Forsta AP Fonden’s holdings in Loews were worth $874,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of Loews by 0.7% in the 4th 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 last quarter. Optas LLC increased its holdings 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 purchasing an additional 151 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Loews by 3.4% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,003 shares of the insurance provider’s stock valued at $392,000 after purchasing an additional 164 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of 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 purchasing an additional 186 shares in the last quarter. Finally, Empirical Finance LLC boosted its position 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 worth $565,000 after buying an additional 222 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Buying and Selling

In related news, VP Mark S. Schwartz sold 2,628 shares of Loews 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 transaction, the vice president now directly 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 is accessible through this hyperlink. In other news, insider Jonathan M. Tisch sold 62,500 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 6,781,634 shares in the company, valued at approximately $548,227,292.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $212,552.64. Following the completion of the transaction, the vice president now directly owns 14,933 shares of the company’s stock, valued at approximately $1,207,781.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,215 shares of company stock worth $7,399,013. Company insiders own 18.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on L. Jefferies Financial Group dropped their target price 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 Loews to a “moderate buy” rating in a research report on Friday, July 26th.

Loews Price Performance

Shares of NYSE L opened at $78.84 on Tuesday. Loews Co. has a twelve month low of $61.43 and a twelve month high of $83.54. The company has a market cap of $17.46 billion, a PE ratio of 11.70 and a beta of 0.82. The business’s 50 day moving average price is $78.84 and its two-hundred day moving average price is $76.89. The company has a quick ratio of 0.34, a current 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 EPS for the quarter. The company had revenue of $4.27 billion for the quarter. Loews had a return on equity of 9.26% and a net margin of 9.14%.

Loews Announces Dividend

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

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.