Mediolanum International Funds Ltd Sells 1,903 Shares of Loews Co. (NYSE:L)

Mediolanum International Funds Ltd lessened its stake in shares of Loews Co. (NYSE:L) by 10.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,209 shares of the insurance provider’s stock after selling 1,903 shares during the period. Mediolanum International Funds Ltd’s holdings in Loews were worth $1,356,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in L. Versant Capital Management Inc increased its holdings in shares of Loews by 244.0% in the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 266 shares in the last quarter. Kimelman & Baird LLC bought a new stake in shares of Loews in the 2nd quarter worth $45,000. Family Firm Inc. bought a new stake in shares of Loews in the 2nd quarter worth $46,000. Eastern Bank bought a new stake in shares of Loews in the 3rd quarter worth $47,000. Finally, Innealta Capital LLC bought a new stake in shares of Loews in the 2nd quarter worth $51,000. Institutional investors own 58.33% of the company’s stock.

Analyst Ratings Changes

L has been the subject of a number of research analyst reports. Jefferies Financial Group reduced their target price on Loews from $115.00 to $112.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada upgraded Loews to a “moderate buy” rating in a research note on Friday, July 26th.

Loews Stock Performance

L stock opened at $79.57 on Monday. The company has a market cap of $17.62 billion, a P/E ratio of 11.81 and a beta of 0.81. 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. The stock’s fifty day moving average price is $79.67 and its 200-day moving average price is $77.49.

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. The firm 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 business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Wednesday, August 21st were given 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 dividend payout ratio (DPR) is presently 3.71%.

Insider Activity at Loews

In related news, insider Jonathan M. Tisch sold 25,000 shares of Loews stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the transaction, the insider now directly owns 461,395 shares in the company, valued at approximately $37,751,338.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Loews news, Director Jonathan C. Locker acquired 6,200 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was purchased at an average price of $80.63 per share, with a total value of $499,906.00. Following the completion of the purchase, the director now directly owns 23,068 shares in the company, valued at approximately $1,859,972.84. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan M. Tisch sold 25,000 shares of the company’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 completion of the transaction, the insider now directly owns 461,395 shares of the company’s stock, valued at approximately $37,751,338.90. This trade represents a 0.00 % decrease in their position. 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. Corporate insiders own 18.70% of the company’s stock.

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.