Inspire Investing LLC Sells 4,681 Shares of Loews Co. (NYSE:L)

Inspire Investing LLC decreased its holdings in Loews Co. (NYSE:L) by 16.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,416 shares of the insurance provider’s stock after selling 4,681 shares during the period. Inspire Investing LLC’s holdings in Loews were worth $1,825,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its holdings in Loews by 244.0% during the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 266 shares during the period. Principal Securities Inc. bought a new stake in shares of Loews during the fourth quarter worth $38,000. Family Firm Inc. purchased a new stake in shares of Loews during the second quarter valued at $46,000. Able Wealth Management LLC purchased a new stake in shares of Loews during the fourth quarter valued at $48,000. Finally, Innealta Capital LLC bought a new position in shares of Loews in the second quarter worth about $51,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Loews

In other news, insider Jonathan M. Tisch sold 62,500 shares of the firm’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 in the company, valued at approximately $548,227,292.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Loews news, VP Mark S. Schwartz sold 2,628 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $80.88, for a total value of $212,552.64. Following the completion of the sale, the vice president now directly owns 14,933 shares in the company, valued at $1,207,781.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jonathan M. Tisch sold 62,500 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $80.84, for a total value of $5,052,500.00. Following the sale, 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. In the last three months, insiders sold 91,215 shares of company stock valued at $7,399,013. Corporate insiders own 18.70% of the company’s stock.

Loews Stock Up 0.1 %

NYSE:L opened at $79.25 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. Loews Co. has a 1-year low of $61.43 and a 1-year high of $83.54. The company has a 50-day moving average of $79.06 and a 200 day moving average of $76.95. The firm has a market cap of $17.55 billion, a PE ratio of 11.76 and a beta of 0.82.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, July 29th. The insurance provider reported $1.67 earnings per share for the quarter. The firm had revenue of $4.27 billion during 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. Stockholders of record on Wednesday, August 21st were issued a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.32%. Loews’s dividend payout ratio is presently 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.