Trust Point Inc. Sells 156 Shares of Loews Co. (NYSE:L)

Trust Point Inc. reduced its holdings in Loews Co. (NYSE:L) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,399 shares of the insurance provider’s stock after selling 156 shares during the quarter. Trust Point Inc.’s holdings in Loews were worth $348,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of L. Wellington Management Group LLP increased its position in shares of Loews by 0.7% in the fourth quarter. Wellington Management Group LLP now owns 20,526 shares of the insurance provider’s stock worth $1,428,000 after purchasing an additional 145 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Loews by 11.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 25,066 shares of the insurance provider’s stock worth $1,744,000 after acquiring an additional 2,625 shares during the last quarter. Nomura Holdings Inc. purchased a new position in Loews in the fourth quarter worth $258,000. CWM LLC increased its stake in Loews by 18.0% in the first quarter. CWM LLC now owns 3,321 shares of the insurance provider’s stock valued at $260,000 after acquiring an additional 507 shares during the last quarter. Finally, Park Avenue Securities LLC raised its position in Loews by 54.2% during the first quarter. Park Avenue Securities LLC now owns 4,780 shares of the insurance provider’s stock valued at $374,000 after purchasing an additional 1,680 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on L. Jefferies Financial Group reduced their price objective on 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 Stock Performance

Loews stock opened at $81.82 on Friday. The firm has a fifty day simple moving average of $79.38 and a two-hundred day simple moving average of $77.32. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a twelve month low of $62.18 and a twelve month high of $83.54. The company has a market capitalization of $18.12 billion, a PE ratio of 12.14 and a beta of 0.81.

Loews (NYSE:L) last released its quarterly earnings data on Monday, July 29th. The insurance provider reported $1.67 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 disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 21st were given a $0.0625 dividend. 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 currently 3.71%.

Insider Activity

In other Loews news, insider Jonathan M. Tisch sold 62,500 shares of the firm’s stock in a transaction on 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 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 Securities & Exchange Commission, which is available at the SEC website. In other Loews 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 value of $5,052,500.00. Following the completion of the sale, the insider now owns 6,781,634 shares in the company, valued at approximately $548,227,292.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathan M. Tisch sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total value of $2,045,500.00. Following the transaction, the insider now directly owns 461,395 shares in the company, valued at $37,751,338.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,215 shares of company stock valued at $7,399,013. 18.70% of the stock is currently owned by company insiders.

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.