Exchange Traded Concepts LLC Raises Stock Position in Loews Co. (NYSE:L)

Exchange Traded Concepts LLC grew its stake in shares of Loews Co. (NYSE:L) by 91.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,089 shares of the insurance provider’s stock after acquiring an additional 21,037 shares during the period. Exchange Traded Concepts LLC’s holdings in Loews were worth $3,485,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of L. Versant Capital Management Inc raised its position in Loews by 244.0% during the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 266 shares in the last quarter. Kimelman & Baird LLC bought a new stake in shares of Loews in the second quarter valued at about $45,000. Family Firm Inc. purchased a new stake in Loews in the second quarter worth about $46,000. Innealta Capital LLC bought a new position in Loews during the 2nd quarter worth about $51,000. Finally, Blue Trust Inc. increased its position in Loews by 80.9% during the 2nd quarter. Blue Trust Inc. now owns 693 shares of the insurance provider’s stock valued at $54,000 after purchasing an additional 310 shares during the period. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Analysts Set New Price Targets

L has been the subject of several research 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 dropped their target price on Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st.

Insiders Place Their Bets

In other Loews news, Director Ann E. Berman sold 1,087 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 4,998 shares in the company, valued at approximately $406,737.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Jonathan C. Locker bought 6,200 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was purchased 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 directly owns 23,068 shares of the company’s stock, valued at $1,859,972.84. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann E. Berman sold 1,087 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total transaction of $88,460.06. Following the completion of the transaction, the director now owns 4,998 shares in the company, valued at approximately $406,737.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,215 shares of company stock valued at $7,399,013. 18.70% of the stock is currently owned by corporate insiders.

Loews Stock Up 1.5 %

NYSE:L opened at $79.35 on Monday. The company’s 50-day simple moving average is $78.96 and its 200-day simple moving average is $77.20. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. Loews Co. has a fifty-two week low of $62.18 and a fifty-two week high of $83.54. The stock has a market capitalization of $17.57 billion, a P/E ratio of 11.77 and a beta of 0.81.

Loews (NYSE:L) last released 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 net margin of 9.14% and a return on equity of 9.26%.

Loews Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date was Wednesday, August 21st. Loews’s dividend payout ratio (DPR) is presently 3.71%.

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.