Loews Co. (NYSE:L) Holdings Trimmed by Fort Pitt Capital Group LLC

Fort Pitt Capital Group LLC trimmed its position in shares of Loews Co. (NYSE:L) by 23.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,751 shares of the insurance provider’s stock after selling 3,384 shares during the period. Fort Pitt Capital Group LLC’s holdings in Loews were worth $850,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in L. Optas LLC boosted its stake in shares of Loews by 1.9% during the 2nd quarter. Optas LLC now owns 8,086 shares of the insurance provider’s stock valued at $604,000 after buying an additional 151 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Loews by 3.4% during 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 buying an additional 164 shares during the period. Atomi Financial Group Inc. boosted its stake 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 valued at $325,000 after buying an additional 169 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Loews by 6.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,195 shares of the insurance provider’s stock valued at $239,000 after purchasing an additional 186 shares during the last quarter. Finally, Ballentine Partners LLC lifted its stake in shares of Loews by 5.2% in the 3rd quarter. Ballentine Partners LLC now owns 3,772 shares of the insurance provider’s stock valued at $298,000 after purchasing an additional 187 shares during the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Loews

In other news, insider Jonathan M. Tisch sold 25,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the transaction, the insider now owns 461,395 shares in the company, valued at approximately $37,751,338.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Jonathan M. Tisch sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 461,395 shares of the company’s stock, valued at $37,751,338.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ann E. Berman sold 1,087 shares of the company’s 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 completion of the sale, the director now directly owns 4,998 shares in the company, valued at approximately $406,737.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,587 shares of company stock worth $7,186,460. 18.70% of the stock is currently owned by company insiders.

Loews Stock Up 0.4 %

Loews stock opened at $79.27 on Friday. The firm has a market cap of $17.40 billion, a price-to-earnings ratio of 11.61 and a beta of 0.82. 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 fifty-two week low of $64.48 and a fifty-two week high of $83.54. The firm has a fifty day moving average price of $79.70 and a two-hundred day moving average price of $77.68.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.0625 per share. 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 payout ratio is 3.66%.

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.