Blue Trust Inc. Increases Stock Position in Loews Co. (NYSE:L)

Blue Trust Inc. boosted its stake in Loews Co. (NYSE:L) by 240.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,360 shares of the insurance provider’s stock after purchasing an additional 1,667 shares during the quarter. Blue Trust Inc.’s holdings in Loews were worth $176,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Aaron Wealth Advisors LLC lifted its stake in Loews by 11.4% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 3,372 shares of the insurance provider’s stock worth $267,000 after purchasing an additional 344 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Loews by 1.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,060 shares of the insurance provider’s stock valued at $1,744,000 after buying an additional 412 shares in the last quarter. Regent Peak Wealth Advisors LLC purchased a new stake in shares of Loews during the 3rd quarter valued at about $213,000. Swedbank AB raised its position in shares of Loews by 8.8% during the 3rd quarter. Swedbank AB now owns 379,647 shares of the insurance provider’s stock valued at $30,011,000 after buying an additional 30,600 shares in the last quarter. Finally, Creative Planning raised its position in shares of Loews by 3.2% during the 3rd quarter. Creative Planning now owns 22,102 shares of the insurance provider’s stock valued at $1,747,000 after buying an additional 677 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Stock Performance

Shares of NYSE:L opened at $79.57 on Friday. The company has a market capitalization of $17.47 billion, a price-to-earnings ratio of 11.65 and a beta of 0.81. Loews Co. has a 12 month low of $62.18 and a 12 month high of $83.54. The firm’s 50-day moving average is $79.67 and its 200 day moving average is $77.46. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50.

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

Loews Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 yield of 0.31%. Loews’s payout ratio is 3.66%.

Insider Activity at Loews

In other Loews news, VP Mark S. Schwartz sold 2,628 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $80.88, for a total value of $212,552.64. Following the transaction, the vice president now directly owns 14,933 shares in the company, valued at $1,207,781.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Jonathan C. Locker bought 6,200 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were acquired at an average cost of $80.63 per share, for a total transaction of $499,906.00. Following the purchase, the director now directly owns 23,068 shares of the company’s stock, valued at approximately $1,859,972.84. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Mark S. Schwartz sold 2,628 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $80.88, for a total transaction of $212,552.64. Following the completion of the transaction, the vice president now owns 14,933 shares in the company, valued at $1,207,781.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,215 shares of company stock worth $7,399,013. Insiders own 18.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Jefferies Financial Group decreased their target price 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 upgraded shares of Loews to a “moderate buy” rating in a research report on Friday, July 26th.

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.