Loews Co. (NYSE:L) Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC raised its position in Loews Co. (NYSE:L) by 13.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 9,182 shares of the insurance provider’s stock after acquiring an additional 1,114 shares during the period. Parallel Advisors LLC’s holdings in Loews were worth $686,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Loews during the fourth quarter worth about $511,159,000. Vanguard Group Inc. increased its position in Loews by 2.5% during the 1st 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 during the period. Swedbank AB purchased a new position in shares of Loews during the 1st quarter worth approximately $23,646,000. Northern Trust Corp lifted its holdings in shares of Loews by 11.9% in the 4th quarter. Northern Trust Corp now owns 2,503,105 shares of the insurance provider’s stock valued at $174,191,000 after buying an additional 266,729 shares during the period. Finally, TD Asset Management Inc boosted its stake 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 valued at $39,307,000 after buying an additional 230,231 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Insider Activity at Loews

In other news, Director Jonathan C. Locker purchased 6,200 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were bought at an average cost of $80.63 per share, with a total value of $499,906.00. Following the purchase, the director now directly owns 23,068 shares of the company’s stock, valued at $1,859,972.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Loews news, Director Ann E. Berman sold 1,087 shares of Loews stock in a transaction on Tuesday, September 3rd. The shares were 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 approximately $406,737.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jonathan C. Locker acquired 6,200 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were purchased at an average price of $80.63 per share, with a total value of $499,906.00. Following the completion of the acquisition, the director now owns 23,068 shares in the company, valued at $1,859,972.84. The disclosure for this purchase can be found here. In the last quarter, insiders sold 91,215 shares of company stock valued at $7,399,013. 18.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Royal Bank of Canada raised Loews to a “moderate buy” rating in a report on Friday, July 26th. Jefferies Financial Group decreased 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.

Loews Stock Performance

Shares of L opened at $78.84 on Tuesday. Loews Co. has a 12-month low of $61.43 and a 12-month high of $83.54. The stock has a market cap of $17.46 billion, a P/E ratio of 11.70 and a beta of 0.82. 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 company has a 50-day moving average of $78.84 and a two-hundred day moving average of $76.89.

Loews (NYSE:L) last posted its earnings results on Monday, July 29th. The insurance provider reported $1.67 earnings per share (EPS) for the quarter. The firm 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 disclosed 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 presently 3.71%.

Loews 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.