Boston Partners Sells 126,927 Shares of Loews Co. (NYSE:L)

Boston Partners decreased its stake in shares of Loews Co. (NYSE:L) by 7.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,523,767 shares of the insurance provider’s stock after selling 126,927 shares during the period. Boston Partners owned approximately 0.68% of Loews worth $90,512,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new stake in Loews during the second quarter worth about $25,000. TCI Wealth Advisors Inc. boosted its stake in Loews by 108.1% during the first quarter. TCI Wealth Advisors Inc. now owns 489 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 254 shares in the last quarter. Ellevest Inc. boosted its stake in Loews by 114.2% during the first quarter. Ellevest Inc. now owns 484 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 258 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in Loews during the first quarter worth about $35,000. Finally, Eagle Bay Advisors LLC bought a new stake in Loews during the second quarter worth about $36,000. Institutional investors own 54.03% of the company’s stock.

Insider Activity

In related news, Director Jonathan C. Locker acquired 15,870 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was purchased at an average cost of $63.75 per share, with a total value of $1,011,712.50. Following the completion of the acquisition, the director now directly owns 15,870 shares of the company’s stock, valued at $1,011,712.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Loews news, Director Paul J. Fribourg sold 561 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $62.56, for a total transaction of $35,096.16. Following the completion of the sale, the director now directly owns 3,292 shares of the company’s stock, valued at $205,947.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jonathan C. Locker bought 15,870 shares of Loews stock in a transaction on Tuesday, October 31st. The shares were acquired at an average cost of $63.75 per share, with a total value of $1,011,712.50. Following the completion of the acquisition, the director now owns 15,870 shares of the company’s stock, valued at approximately $1,011,712.50. The disclosure for this purchase can be found here. 18.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on L shares. Royal Bank of Canada decreased their target price on shares of Loews from $174.00 to $170.00 and set an “outperform” rating for the company in a report on Thursday. StockNews.com started coverage on shares of Loews in a report on Thursday, October 5th. They issued a “buy” rating for the company.

Loews Stock Down 0.1 %

Shares of Loews stock opened at $67.00 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.32 and a current ratio of 0.32. The stock has a market capitalization of $14.96 billion, a PE ratio of 11.47 and a beta of 0.80. Loews Co. has a 52-week low of $52.85 and a 52-week high of $67.46. The company has a 50-day simple moving average of $64.31 and a two-hundred day simple moving average of $61.58.

Loews (NYSE:L) last released its quarterly earnings data on Monday, October 30th. The insurance provider reported $1.12 earnings per share for the quarter. Loews had a net margin of 8.76% and a return on equity of 8.95%. The firm had revenue of $3.93 billion during the quarter.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Wednesday, November 22nd will be issued a dividend of $0.0625 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $0.25 annualized dividend and a dividend yield of 0.37%. Loews’s payout ratio is 4.28%.

Loews 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 property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto and umbrella coverages.