AustralianSuper Pty Ltd Trims Holdings in Loews Co. (NYSE:L)

AustralianSuper Pty Ltd reduced its holdings in shares of Loews Co. (NYSE:L) by 50.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,210 shares of the insurance provider’s stock after selling 104,322 shares during the period. AustralianSuper Pty Ltd’s holdings in Loews were worth $8,238,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of L. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Loews by 0.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,795 shares of the insurance provider’s stock valued at $38,972,000 after buying an additional 2,553 shares during the last quarter. Private Advisor Group LLC boosted its stake in Loews by 5.0% in the 1st quarter. Private Advisor Group LLC now owns 5,306 shares of the insurance provider’s stock worth $415,000 after purchasing an additional 254 shares in the last quarter. Flynn Zito Capital Management LLC grew its position in Loews by 8.9% during the 1st quarter. Flynn Zito Capital Management LLC now owns 3,424 shares of the insurance provider’s stock valued at $268,000 after purchasing an additional 279 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Loews by 8.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,037 shares of the insurance provider’s stock valued at $2,273,000 after purchasing an additional 2,358 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Loews by 68.6% in the first quarter. BNP Paribas Financial Markets now owns 312,827 shares of the insurance provider’s stock worth $24,491,000 after buying an additional 127,257 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on L. Jefferies Financial Group reduced their price target 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. Royal Bank of Canada raised Loews to a “moderate buy” rating in a report on Friday, July 26th.

Insider Activity at Loews

In other news, insider Jonathan M. Tisch sold 62,500 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 6,781,634 shares in the company, valued at $548,227,292.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Loews news, insider Jonathan M. Tisch sold 25,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the completion of the sale, the insider now owns 461,395 shares of the company’s stock, valued at approximately $37,751,338.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jonathan M. Tisch sold 62,500 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 6,781,634 shares in the company, valued at $548,227,292.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 88,587 shares of company stock worth $7,186,460. 18.70% of the stock is owned by insiders.

Loews Stock Performance

Shares of NYSE L traded down $0.35 during trading on Thursday, reaching $80.01. 90,296 shares of the company traded hands, compared to its average volume of 704,749. The firm has a 50 day simple moving average of $79.73 and a 200-day simple moving average of $77.60. Loews Co. has a 52-week low of $63.23 and a 52-week high of $83.54. The stock has a market capitalization of $17.71 billion, a PE ratio of 11.92 and a beta of 0.81. 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 (NYSE:L) last posted its earnings results on Monday, July 29th. The insurance provider reported $1.67 EPS for the quarter. The business had revenue of $4.27 billion during the quarter. Loews had a net margin of 9.14% and a return on equity of 9.26%.

Loews Dividend Announcement

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

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.