V Square Quantitative Management LLC Reduces Position in Loews Co. (NYSE:L)

V Square Quantitative Management LLC trimmed its position in Loews Co. (NYSE:L) by 11.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,871 shares of the insurance provider’s stock after selling 512 shares during the period. V Square Quantitative Management LLC’s holdings in Loews were worth $289,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Loews by 2.5% in the first quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider’s stock worth $1,656,376,000 after buying an additional 507,513 shares during the period. Norges Bank bought a new stake in Loews during the 4th quarter valued at approximately $511,159,000. Allspring Global Investments Holdings LLC raised its stake in Loews by 1.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,259,802 shares of the insurance provider’s stock valued at $255,210,000 after purchasing an additional 37,953 shares during the period. Northern Trust Corp raised its stake in Loews by 11.9% during the 4th quarter. Northern Trust Corp now owns 2,503,105 shares of the insurance provider’s stock valued at $174,191,000 after purchasing an additional 266,729 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Loews by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,587,817 shares of the insurance provider’s stock valued at $110,496,000 after purchasing an additional 21,323 shares during the period. 58.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jonathan M. Tisch sold 50,000 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $77.14, for a total value of $3,857,000.00. Following the completion of the transaction, the insider now directly owns 457,799 shares in the company, valued at approximately $35,314,614.86. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Loews news, VP Mark S. Schwartz sold 2,628 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $80.88, for a total transaction of $212,552.64. Following the completion of the transaction, the vice president now directly owns 14,933 shares in the company, valued at $1,207,781.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan M. Tisch sold 50,000 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $77.14, for a total transaction of $3,857,000.00. Following the transaction, the insider now owns 457,799 shares of the company’s stock, valued at $35,314,614.86. The disclosure for this sale can be found here. Insiders own 18.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on L shares. Royal Bank of Canada raised Loews to a “moderate buy” rating in a research note on Friday, July 26th. 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 note on Wednesday, July 31st.

Loews Stock Up 0.6 %

Shares of NYSE:L traded up $0.45 during trading hours on Wednesday, hitting $77.51. The company’s stock had a trading volume of 145,367 shares, compared to its average volume of 727,633. Loews Co. has a 52 week low of $61.29 and a 52 week 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 company has a market capitalization of $17.16 billion, a price-to-earnings ratio of 11.43 and a beta of 0.83. The firm’s fifty day moving average price is $76.56 and its 200 day moving average price is $75.85.

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 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.32%. The ex-dividend date is Wednesday, August 21st. Loews’s dividend payout ratio (DPR) 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.