Loews Co. (NYSE:L) Stake Boosted by Amalgamated Bank

Amalgamated Bank raised its holdings in shares of Loews Co. (NYSE:L) by 5.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,293 shares of the insurance provider’s stock after purchasing an additional 3,058 shares during the period. Amalgamated Bank’s holdings in Loews were worth $4,357,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Principal Securities Inc. acquired a new stake in shares of Loews during the 4th quarter worth approximately $38,000. Janney Montgomery Scott LLC increased its position in Loews by 79.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 12,043 shares of the insurance provider’s stock worth $838,000 after buying an additional 5,332 shares during the period. PNC Financial Services Group Inc. lifted its stake in Loews by 11.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 25,066 shares of the insurance provider’s stock valued at $1,744,000 after buying an additional 2,625 shares during the last quarter. UBS Group AG boosted its holdings in shares of Loews by 60.0% during the fourth quarter. UBS Group AG now owns 555,768 shares of the insurance provider’s stock valued at $38,676,000 after acquiring an additional 208,356 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Loews by 8.1% during the fourth quarter. Wells Fargo & Company MN now owns 196,732 shares of the insurance provider’s stock valued at $13,691,000 after acquiring an additional 14,820 shares during the period. 58.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on L. Jefferies Financial Group cut their price objective on shares of 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 report on Friday, July 26th.

Loews Price Performance

Shares of L opened at $78.54 on Friday. The firm has a market capitalization of $17.39 billion, a price-to-earnings ratio of 11.65 and a beta of 0.82. The stock’s fifty day moving average is $79.09 and its 200-day moving average is $77.00. Loews Co. has a one year low of $61.43 and a one year high of $83.54. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, July 29th. The insurance provider reported $1.67 earnings per share for the quarter. Loews had a net margin of 9.14% and a return on equity of 9.26%. The company had revenue of $4.27 billion during the quarter.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend was Wednesday, August 21st. Loews’s dividend payout ratio (DPR) is presently 3.71%.

Insider Transactions at Loews

In other news, insider Jonathan M. Tisch sold 62,500 shares of Loews 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 transaction, the insider now owns 6,781,634 shares of the company’s stock, valued at approximately $548,227,292.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jonathan M. Tisch sold 25,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.82, for a total value of $2,045,500.00. Following the completion of the transaction, the insider now owns 461,395 shares in the company, valued at approximately $37,751,338.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan M. Tisch sold 62,500 shares of Loews 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 completion of the transaction, the insider now directly 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 90 days, insiders have sold 91,215 shares of company stock valued at $7,399,013. Corporate insiders own 18.70% of the company’s stock.

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.