Seven Eight Capital LP Takes $226,000 Position in Loews Co. (NYSE:L)

Seven Eight Capital LP purchased a new stake in shares of Loews Co. (NYSE:L) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,021 shares of the insurance provider’s stock, valued at approximately $226,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hsbc Holdings PLC lifted its holdings in Loews by 5.0% in the second quarter. Hsbc Holdings PLC now owns 692,116 shares of the insurance provider’s stock worth $51,750,000 after buying an additional 33,125 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Loews by 7.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 28,874 shares of the insurance provider’s stock valued at $2,148,000 after buying an additional 2,096 shares in the last quarter. Amalgamated Bank grew its position in shares of Loews by 5.5% in the 2nd quarter. Amalgamated Bank now owns 58,293 shares of the insurance provider’s stock worth $4,357,000 after buying an additional 3,058 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Loews by 12.2% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,670 shares of the insurance provider’s stock valued at $274,000 after purchasing an additional 400 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of Loews by 5.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 97,923 shares of the insurance provider’s stock worth $7,319,000 after acquiring an additional 4,716 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Insider Transactions at Loews

In other news, insider Jonathan M. Tisch sold 62,500 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $80.84, for a total transaction of $5,052,500.00. Following the transaction, the insider now owns 6,781,634 shares of the company’s stock, valued at $548,227,292.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Loews news, Director Ann E. Berman sold 1,087 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the transaction, the director now directly 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 this hyperlink. Also, insider Jonathan M. Tisch sold 62,500 shares of the stock in a transaction 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 disclosure for this sale can be found here. In the last quarter, insiders sold 91,215 shares of company stock worth $7,399,013. 18.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Loews Stock Up 0.2 %

NYSE L opened at $78.68 on Tuesday. The stock’s 50-day moving average price is $79.12 and its 200-day moving average price is $77.04. The company has a market capitalization of $17.42 billion, a P/E ratio of 11.67 and a beta of 0.82. 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 Co. has a 52 week low of $61.43 and a 52 week high of $83.54.

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

Loews Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st were paid a $0.0625 dividend. 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 is currently 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.