Tectonic Advisors LLC Has $1.58 Million Holdings in Loews Co. (NYSE:L)

Tectonic Advisors LLC trimmed its stake in Loews Co. (NYSE:L) by 2.6% in the third quarter, HoldingsChannel.com reports. The firm owned 20,042 shares of the insurance provider’s stock after selling 542 shares during the period. Tectonic Advisors LLC’s holdings in Loews were worth $1,584,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Versant Capital Management Inc increased its stake in shares of Loews by 244.0% during 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 during the last quarter. Kimelman & Baird LLC purchased a new position in shares of Loews during the 2nd quarter valued at $45,000. Family Firm Inc. purchased a new position in shares of Loews during the 2nd quarter valued at $46,000. Eastern Bank purchased a new position in shares of Loews during the 3rd quarter valued at $47,000. Finally, Innealta Capital LLC purchased a new position in shares of Loews during the 2nd quarter valued at $51,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Stock Performance

Shares of NYSE:L opened at $81.09 on Friday. The company has a market cap of $17.95 billion, a price-to-earnings ratio of 12.03 and a beta of 0.81. The company has a 50-day moving average price of $79.60 and a 200-day moving average price of $77.41. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a 12 month low of $62.18 and a 12 month high of $83.54.

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. Loews had a net margin of 9.14% and a return on equity of 9.26%. The company had revenue of $4.27 billion during the quarter.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Wednesday, August 21st were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date was Wednesday, August 21st. Loews’s payout ratio is currently 3.71%.

Insiders Place Their Bets

In other Loews news, Director Ann E. Berman sold 1,087 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total value of $88,460.06. Following the sale, the director now owns 4,998 shares in the company, valued at approximately $406,737.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Ann E. Berman sold 1,087 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the transaction, the director now owns 4,998 shares in the company, valued at $406,737.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Mark S. Schwartz sold 2,628 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 14,933 shares in the company, valued at approximately $1,207,781.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,215 shares of company stock worth $7,399,013. 18.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Loews Company 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.