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

Tectonic Advisors LLC cut its stake in shares of Loews Co. (NYSE:L) by 2.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Loews by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider’s stock worth $1,656,376,000 after purchasing an additional 507,513 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Loews by 2.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,183,138 shares of the insurance provider’s stock valued at $251,627,000 after purchasing an additional 69,459 shares during the period. Dimensional Fund Advisors LP boosted its stake in Loews by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider’s stock valued at $199,858,000 after purchasing an additional 161,810 shares during the period. AQR Capital Management LLC boosted its stake in Loews by 5.8% during the 2nd quarter. AQR Capital Management LLC now owns 820,800 shares of the insurance provider’s stock valued at $61,347,000 after purchasing an additional 45,237 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in Loews by 5.0% during the 2nd quarter. Hsbc Holdings PLC now owns 692,116 shares of the insurance provider’s stock valued at $51,750,000 after purchasing an additional 33,125 shares during the period. 58.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Loews

In related news, insider Jonathan M. Tisch sold 62,500 shares of Loews 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 sale, the insider now owns 6,781,634 shares of the company’s stock, valued at approximately $548,227,292.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jonathan M. Tisch sold 62,500 shares of the business’s 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 completion of the sale, the insider now owns 6,781,634 shares in the company, valued at $548,227,292.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Mark S. Schwartz sold 2,628 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $80.88, for a total value of $212,552.64. Following the sale, the vice president now owns 14,933 shares of the company’s stock, valued at approximately $1,207,781.04. This 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 valued at $7,399,013. 18.70% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Loews Stock Up 0.2 %

Shares of L opened at $81.09 on Friday. The firm has a market capitalization of $17.95 billion, a price-to-earnings ratio of 12.03 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The business’s fifty day moving average price is $79.60 and its two-hundred day moving average price is $77.41. Loews Co. has a 52 week low of $62.18 and a 52 week high of $83.54.

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

The company also recently declared 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 dividend yield of 0.31%. The ex-dividend date was Wednesday, August 21st. Loews’s dividend payout ratio is 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.