US Asset Management LLC Sells 285 Shares of Loews Co. (NYSE:L)

US Asset Management LLC reduced its holdings in Loews Co. (NYSE:L) by 3.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,080 shares of the insurance provider’s stock after selling 285 shares during the quarter. US Asset Management LLC’s holdings in Loews were worth $529,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Private Advisor Group LLC increased its position in shares of Loews by 59.5% during the fourth quarter. Private Advisor Group LLC now owns 5,052 shares of the insurance provider’s stock worth $352,000 after acquiring an additional 1,885 shares in the last quarter. Principal Securities Inc. bought a new position in Loews during the 4th quarter worth about $38,000. Principal Financial Group Inc. raised its stake in shares of Loews by 12.8% in the 4th quarter. Principal Financial Group Inc. now owns 242,163 shares of the insurance provider’s stock valued at $16,852,000 after purchasing an additional 27,498 shares during the period. Ieq Capital LLC lifted its holdings in shares of Loews by 14.0% in the fourth quarter. Ieq Capital LLC now owns 3,999 shares of the insurance provider’s stock valued at $278,000 after purchasing an additional 490 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of Loews by 6.2% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 23,711 shares of the insurance provider’s stock worth $1,650,000 after buying an additional 1,386 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on L shares. Jefferies Financial Group cut their price objective 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 note on Friday, July 26th.

Insider Buying and Selling at Loews

In related news, insider Jonathan M. Tisch sold 62,500 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Ann E. Berman sold 1,087 shares of Loews stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total value of $88,460.06. Following the transaction, the director now directly owns 4,998 shares of the company’s stock, valued at $406,737.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan M. Tisch sold 62,500 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $80.84, for a total value 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. The disclosure for this sale can be found here. Insiders sold 91,215 shares of company stock valued at $7,399,013 in the last quarter. Company insiders own 18.70% of the company’s stock.

Loews Price Performance

NYSE:L opened at $78.34 on Friday. The firm’s fifty day moving average price is $78.76 and its two-hundred day moving average price is $76.84. 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 company has a market cap of $17.20 billion, a P/E ratio of 11.62 and a beta of 0.82. Loews Co. has a one year low of $61.43 and a one year high of $83.54.

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

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 21st were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.32%. The ex-dividend date was Wednesday, August 21st. Loews’s dividend payout ratio (DPR) is 3.71%.

Loews 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.