AustralianSuper Pty Ltd Has $8.24 Million Stock Position in Loews Co. (NYSE:L)

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

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in L. Vanguard Group Inc. increased its position in shares of Loews by 2.5% during the first quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider’s stock worth $1,656,376,000 after acquiring an additional 507,513 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Loews by 2.2% in the third 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 in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Loews by 6.4% in the second 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 in the last quarter. AQR Capital Management LLC boosted its position in shares of Loews by 5.8% during the second quarter. AQR Capital Management LLC now owns 820,800 shares of the insurance provider’s stock valued at $61,347,000 after buying an additional 45,237 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in Loews by 5.0% in the 2nd quarter. Hsbc Holdings PLC now owns 692,116 shares of the insurance provider’s stock valued at $51,750,000 after buying an additional 33,125 shares during the last quarter. 58.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

L has been the subject of a number of recent analyst reports. Royal Bank of Canada raised shares of Loews to a “moderate buy” rating in a research report on Friday, July 26th. Jefferies Financial Group reduced 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 Performance

Shares of NYSE L traded down $0.35 during midday trading on Thursday, hitting $80.01. The company’s stock had a trading volume of 90,296 shares, compared to its average volume of 704,749. The stock has a fifty day moving average price of $79.73 and a 200 day moving average price of $77.60. The firm has a market capitalization of $17.71 billion, a price-to-earnings ratio of 11.92 and a beta of 0.81. Loews Co. has a one year low of $63.23 and a one year high of $83.54. 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 (NYSE:L) last released its quarterly earnings data on Monday, July 29th. The insurance provider reported $1.67 earnings per share (EPS) for the quarter. Loews had a return on equity of 9.26% and a net margin of 9.14%. The company had revenue of $4.27 billion for the quarter.

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 issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend was Wednesday, August 21st. Loews’s payout ratio is 3.71%.

Insider Transactions at Loews

In other Loews news, insider Jonathan M. Tisch sold 62,500 shares of the company’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 transaction, the insider now directly 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Ann E. Berman sold 1,087 shares of Loews stock in a transaction 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 completion of the sale, the director now directly owns 4,998 shares of the company’s stock, valued at approximately $406,737.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathan M. Tisch sold 62,500 shares of the 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 completion of the transaction, the insider now directly owns 6,781,634 shares in the company, valued at approximately $548,227,292.56. 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 88,587 shares of company stock valued at $7,186,460. 18.70% of the stock is currently owned by company insiders.

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.