Loews Co. (NYSE:L) Shares Acquired by SG Americas Securities LLC
SG Americas Securities LLC increased its stake in shares of Loews Co. (NYSE:L) by 87.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 73,671 shares of the insurance provider’s stock after purchasing an additional 34,314 shares during the period. SG Americas Securities LLC’s holdings in Loews were worth $4,028,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC raised its position in shares of Loews by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 4,326,269 shares of the insurance provider’s stock worth $196,648,000 after purchasing an additional 291,715 shares during the last quarter. State of Alaska Department of Revenue grew its stake in Loews by 11.8% during the 1st quarter. State of Alaska Department of Revenue now owns 71,094 shares of the insurance provider’s stock valued at $3,406,000 after acquiring an additional 7,485 shares in the last quarter. Virtu Financial LLC purchased a new stake in Loews during the 1st quarter valued at about $242,000. Steinberg Global Asset Management grew its stake in Loews by 40.0% during the 1st quarter. Steinberg Global Asset Management now owns 7,000 shares of the insurance provider’s stock valued at $348,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Jolley Asset Management LLC grew its stake in Loews by 4.6% during the 1st quarter. Jolley Asset Management LLC now owns 88,218 shares of the insurance provider’s stock valued at $4,228,000 after acquiring an additional 3,906 shares in the last quarter. 62.43% of the stock is owned by institutional investors.
NYSE L traded up $0.14 during trading hours on Tuesday, hitting $50.25. 11,220 shares of the company’s stock traded hands, compared to its average volume of 919,349. Loews Co. has a 52-week low of $42.06 and a 52-week high of $56.20. The company has a market cap of $15.41 billion, a P/E ratio of 17.83 and a beta of 0.64. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average is $54.01.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 28th will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $0.25 annualized dividend and a yield of 0.50%. Loews’s dividend payout ratio is presently 8.80%.
Several brokerages recently issued reports on L. Zacks Investment Research raised shares of Loews from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Tuesday, May 7th. ValuEngine cut shares of Loews from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $66.60.
In related news, Director Joseph L. Bower sold 706 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $51.71, for a total transaction of $36,507.26. Following the completion of the transaction, the director now owns 12,845 shares of the company’s stock, valued at approximately $664,214.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard Waldo Scott sold 6,228 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $51.99, for a total transaction of $323,793.72. Following the transaction, the senior vice president now directly owns 29,732 shares of the company’s stock, valued at approximately $1,545,766.68. The disclosure for this sale can be found here. In the last three months, insiders sold 31,233 shares of company stock valued at $1,649,678. Corporate insiders own 14.20% of the company’s stock.
Loews Company Profile
Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally. It operates through CNA Financial Corporation; Diamond Offshore Drilling, Inc; Boardwalk Pipeline Partners, LP; and Loews Hotels Holding Corporation segments. The company offers specialty insurance products, such as management and professional liability insurance coverages and products; surety and fidelity bonds; and warranty and alternative risk services.
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