Donald Smith & CO. Inc. Lowers Stake in Loews Co. (NYSE:L)

Donald Smith & CO. Inc. lessened its stake in Loews Co. (NYSE:L) by 32.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 392,417 shares of the insurance provider’s stock after selling 190,175 shares during the period. Donald Smith & CO. Inc.’s holdings in Loews were worth $29,329,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in L. Versant Capital Management Inc lifted its position in shares of Loews by 244.0% during the second quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 266 shares in the last quarter. Principal Securities Inc. acquired a new stake in Loews during the 4th quarter worth approximately $38,000. Family Firm Inc. purchased a new position in Loews in the 2nd quarter valued at approximately $46,000. Able Wealth Management LLC acquired a new position in shares of Loews in the fourth quarter worth $48,000. Finally, Innealta Capital LLC purchased a new stake in shares of Loews during the second quarter worth $51,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Stock Up 0.3 %

L stock opened at $78.34 on Monday. The stock has a market cap of $17.34 billion, a P/E ratio of 11.62 and a beta of 0.82. 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 Co. has a twelve month low of $61.43 and a twelve month high of $83.54. The company’s 50 day moving average is $78.76 and its two-hundred day moving average is $76.86.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, July 29th. The insurance provider reported $1.67 earnings per share for the quarter. Loews had a net margin of 9.14% and a return on equity of 9.26%. The firm had revenue of $4.27 billion during the quarter.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Wednesday, August 21st were given a $0.0625 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.32%. Loews’s dividend payout ratio (DPR) is presently 3.71%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Royal Bank of Canada raised Loews to a “moderate buy” rating in a research report on Friday, July 26th. Jefferies Financial Group cut their price target on Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st.

Insiders Place Their Bets

In other news, insider Jonathan M. Tisch sold 62,500 shares of Loews 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 transaction, the insider now directly owns 6,781,634 shares of the company’s stock, valued at approximately $548,227,292.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Jonathan C. Locker bought 6,200 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were acquired at an average price of $80.63 per share, with a total value of $499,906.00. Following the completion of the acquisition, the director now owns 23,068 shares in the company, valued at approximately $1,859,972.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jonathan M. Tisch sold 62,500 shares of Loews stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $80.84, for a total transaction of $5,052,500.00. Following the completion of the transaction, the insider now owns 6,781,634 shares in the company, valued at $548,227,292.56. The disclosure for this sale can be found here. Insiders have sold a total of 91,215 shares of company stock valued at $7,399,013 over the last quarter. Company insiders own 18.70% of the company’s stock.

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.