CENTRAL TRUST Co Sells 750 Shares of Loews Co. (NYSE:L)

CENTRAL TRUST Co lowered its stake in Loews Co. (NYSE:L) by 19.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,067 shares of the insurance provider’s stock after selling 750 shares during the period. CENTRAL TRUST Co’s holdings in Loews were worth $242,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in L. Vanguard Group Inc. lifted its stake in shares of Loews by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider’s stock valued at $1,656,376,000 after purchasing an additional 507,513 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Loews by 2.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,183,138 shares of the insurance provider’s stock valued at $251,627,000 after buying an additional 69,459 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Loews by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider’s stock valued at $199,858,000 after buying an additional 161,810 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Loews by 5.8% in the 2nd quarter. AQR Capital Management LLC now owns 820,800 shares of the insurance provider’s stock worth $61,347,000 after buying an additional 45,237 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of Loews by 5.0% in the 2nd quarter. Hsbc Holdings PLC now owns 692,116 shares of the insurance provider’s stock worth $51,750,000 after acquiring an additional 33,125 shares in the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Loews

In other news, insider Jonathan M. Tisch sold 62,500 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $80.84, for a total transaction of $5,052,500.00. Following the sale, the insider now owns 6,781,634 shares of the company’s stock, valued at $548,227,292.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Ann E. Berman sold 1,087 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was 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 owns 4,998 shares in the company, valued at approximately $406,737.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan M. Tisch sold 62,500 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 6,781,634 shares in the company, valued at approximately $548,227,292.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,215 shares of company stock worth $7,399,013 over the last quarter. 18.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

L has been the topic of several research reports. 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 price target on Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st.

Loews Price Performance

L opened at $79.57 on Friday. The firm has a market cap of $17.47 billion, a PE ratio of 11.65 and a beta of 0.81. The stock has a 50-day moving average price of $79.67 and a 200-day moving average price of $77.46. Loews Co. has a 1 year low of $62.18 and a 1 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.

Loews (NYSE:L) last issued its earnings results on Monday, July 29th. The insurance provider reported $1.67 earnings per share (EPS) for the quarter. The firm 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 21st were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date was Wednesday, August 21st. Loews’s payout ratio is 3.66%.

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.