Tevis Investment Management Raises Holdings in Loews Co. (NYSE:L)

Tevis Investment Management grew its stake in Loews Co. (NYSE:L) by 0.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 33,125 shares of the insurance provider’s stock after buying an additional 225 shares during the quarter. Loews accounts for approximately 1.9% of Tevis Investment Management’s portfolio, making the stock its 14th biggest position. Tevis Investment Management’s holdings in Loews were worth $2,619,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Optas LLC lifted its stake in Loews by 1.9% in the second quarter. Optas LLC now owns 8,086 shares of the insurance provider’s stock worth $604,000 after acquiring an additional 151 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Loews by 3.4% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,003 shares of the insurance provider’s stock valued at $392,000 after purchasing an additional 164 shares in the last quarter. Atomi Financial Group Inc. lifted its position in shares of Loews by 4.3% during the 3rd quarter. Atomi Financial Group Inc. now owns 4,111 shares of the insurance provider’s stock worth $325,000 after purchasing an additional 169 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Loews by 6.2% during the second quarter. Sequoia Financial Advisors LLC now owns 3,195 shares of the insurance provider’s stock worth $239,000 after purchasing an additional 186 shares in the last quarter. Finally, Ballentine Partners LLC increased its holdings in Loews by 5.2% in the third quarter. Ballentine Partners LLC now owns 3,772 shares of the insurance provider’s stock valued at $298,000 after buying an additional 187 shares during the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Loews

In related news, insider Jonathan M. Tisch sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 461,395 shares in the company, valued at $37,751,338.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Jonathan M. Tisch sold 62,500 shares of the 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 completion of the transaction, the insider now directly owns 6,781,634 shares of the company’s stock, valued at approximately $548,227,292.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan M. Tisch sold 25,000 shares of Loews stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total value of $2,045,500.00. Following the completion of the sale, the insider now owns 461,395 shares in the company, valued at approximately $37,751,338.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,587 shares of company stock worth $7,186,460 in the last 90 days. 18.70% of the stock is owned by insiders.

Loews Stock Performance

Shares of L stock opened at $80.35 on Thursday. The stock’s 50-day moving average is $79.73 and its two-hundred day moving average is $77.60. 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 Co. has a 1 year low of $63.23 and a 1 year high of $83.54. The firm has a market cap of $17.79 billion, a price-to-earnings ratio of 11.92 and a beta of 0.81.

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

Loews Dividend Announcement

The firm also recently announced 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 was Wednesday, August 21st. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.31%. Loews’s payout ratio is 3.71%.

Analysts Set New Price Targets

A number of research firms have recently commented on L. Jefferies Financial Group dropped their price objective on Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a report 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.

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.