Mn Services Vermogensbeheer B.V. Decreases Position in Loews Co. (NYSE:L)

Mn Services Vermogensbeheer B.V. decreased its stake in Loews Co. (NYSE:L) by 2.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 74,500 shares of the insurance provider’s stock after selling 2,200 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Loews were worth $5,568,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of L. International Assets Investment Management LLC purchased a new position in Loews during the fourth quarter worth $3,695,000. Louisiana State Employees Retirement System purchased a new position in shares of Loews during the 4th quarter worth about $772,000. abrdn plc grew its holdings in Loews by 66.0% during the 4th quarter. abrdn plc now owns 77,633 shares of the insurance provider’s stock valued at $5,402,000 after purchasing an additional 30,875 shares during the last quarter. CWM LLC raised its position in Loews by 15.9% in the 4th quarter. CWM LLC now owns 2,814 shares of the insurance provider’s stock worth $196,000 after purchasing an additional 386 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. lifted its stake in Loews by 4.3% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,839 shares of the insurance provider’s stock worth $337,000 after purchasing an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on L shares. Jefferies Financial Group cut their target price on Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Royal Bank of Canada upgraded Loews to a “moderate buy” rating in a research note on Friday, July 26th.

Insider Buying and Selling

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 shares were purchased at an average cost of $80.63 per share, for a total transaction of $499,906.00. Following the completion of the purchase, the director now owns 23,068 shares in the company, valued at $1,859,972.84. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Jonathan C. Locker bought 6,200 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were bought at an average price of $80.63 per share, for a total transaction of $499,906.00. Following the completion of the purchase, the director now directly owns 23,068 shares of the company’s stock, valued at $1,859,972.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Mark S. Schwartz sold 2,628 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $80.88, for a total transaction of $212,552.64. Following the sale, the vice president now directly owns 14,933 shares of the company’s stock, valued at $1,207,781.04. The disclosure for this sale can be found here. 18.70% of the stock is owned by insiders.

Loews Trading Up 1.2 %

Loews stock traded up $0.92 during trading hours on Friday, hitting $80.35. The company had a trading volume of 360,014 shares, compared to its average volume of 718,644. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The firm has a market cap of $17.79 billion, a P/E ratio of 11.92 and a beta of 0.83. The company has a 50-day moving average price of $77.26 and a two-hundred day moving average price of $76.17. Loews Co. has a 1 year low of $61.29 and a 1 year high of $83.54.

Loews (NYSE:L) last announced 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 during the quarter. Loews had a return on equity of 9.26% and a net margin of 9.14%.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Wednesday, August 21st will be issued a $0.0625 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $0.25 annualized dividend and a dividend yield of 0.31%. Loews’s payout ratio is currently 3.71%.

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.