Summit Trail Advisors LLC Purchases 326 Shares of Loews Co. (NYSE:L)

Summit Trail Advisors LLC lifted its position in Loews Co. (NYSE:L) by 5.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,885 shares of the insurance provider’s stock after buying an additional 326 shares during the period. Summit Trail Advisors LLC’s holdings in Loews were worth $440,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Sei Investments Co. raised its holdings in Loews by 28.9% during the 2nd quarter. Sei Investments Co. now owns 197,139 shares of the insurance provider’s stock worth $14,734,000 after buying an additional 44,207 shares during the period. Skandinaviska Enskilda Banken AB publ increased its position in shares of Loews by 5.8% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 157,182 shares of the insurance provider’s stock worth $11,748,000 after acquiring an additional 8,589 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Loews by 12.1% during the second quarter. Canada Pension Plan Investment Board now owns 194,677 shares of the insurance provider’s stock worth $14,550,000 after acquiring an additional 21,000 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Loews by 46.6% during the second quarter. Intech Investment Management LLC now owns 127,353 shares of the insurance provider’s stock worth $9,518,000 after acquiring an additional 40,486 shares during the period. Finally, Seven Eight Capital LP bought a new stake in Loews in the 2nd quarter valued at $226,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Trading Up 0.2 %

Shares of NYSE:L opened at $78.68 on Tuesday. The company’s 50-day moving average price is $79.12 and its two-hundred day moving average price is $77.04. 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 current ratio of 0.34 and a quick ratio of 0.34. The stock has a market capitalization of $17.42 billion, a PE ratio of 11.67 and a beta of 0.82.

Loews (NYSE:L) last released its earnings results on Monday, July 29th. The insurance provider reported $1.67 earnings per share (EPS) for the quarter. The business 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 company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Wednesday, August 21st were paid a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.25 annualized dividend and a dividend yield of 0.32%. Loews’s dividend payout ratio is presently 3.71%.

Wall Street Analyst Weigh In

Several research firms have issued reports on L. Royal Bank of Canada raised Loews to a “moderate buy” rating in a research note on Friday, July 26th. Jefferies Financial Group cut their target price on Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st.

Insider Buying and Selling

In other news, Director Jonathan C. Locker bought 6,200 shares of the company’s stock in a transaction dated 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 acquisition, the director now owns 23,068 shares in the company, valued at $1,859,972.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Loews news, Director Jonathan C. Locker bought 6,200 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were acquired at an average cost of $80.63 per share, with a total value of $499,906.00. Following the acquisition, the director now owns 23,068 shares of the company’s stock, valued at $1,859,972.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mark S. Schwartz sold 2,628 shares of the firm’s stock in a transaction 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 sale, 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 three months, insiders have sold 91,215 shares of company stock worth $7,399,013. 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.