Carolina Wealth Advisors LLC Lowers Stock Position in Loews Co. (NYSE:L)

Carolina Wealth Advisors LLC trimmed its position in Loews Co. (NYSE:L) by 8.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 9,707 shares of the insurance provider’s stock after selling 894 shares during the quarter. Carolina Wealth Advisors LLC’s holdings in Loews were worth $767,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Loews by 2.5% in the first quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider’s stock valued at $1,656,376,000 after acquiring an additional 507,513 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Loews by 2.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,183,138 shares of the insurance provider’s stock worth $251,627,000 after purchasing an additional 69,459 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Loews by 6.4% during the 2nd 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 during the period. AQR Capital Management LLC lifted its holdings in Loews by 5.8% in the 2nd quarter. AQR Capital Management LLC now owns 820,800 shares of the insurance provider’s stock worth $61,347,000 after purchasing an additional 45,237 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Loews by 5.0% in the 2nd quarter. Hsbc Holdings PLC now owns 692,116 shares of the insurance provider’s stock worth $51,750,000 after purchasing an additional 33,125 shares during the period. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Price Performance

Shares of NYSE:L traded down $0.70 during mid-day trading on Monday, reaching $81.12. The stock had a trading volume of 113,015 shares, compared to its average volume of 710,276. The business’s 50 day moving average price is $79.38 and its 200 day moving average price is $77.32. Loews Co. has a 1 year low of $62.18 and a 1 year high of $83.54. The company has a market cap of $17.96 billion, a P/E ratio of 12.14 and a beta of 0.81. 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. The business had revenue of $4.27 billion for the quarter. Loews had a return on equity of 9.26% and a net margin of 9.14%.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Wednesday, August 21st were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date was Wednesday, August 21st. Loews’s payout ratio is 3.71%.

Insider Buying and Selling at Loews

In other news, VP Mark S. Schwartz sold 2,628 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $80.88, for a total value of $212,552.64. Following the sale, the vice president now directly owns 14,933 shares in the company, valued at $1,207,781.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Mark S. Schwartz sold 2,628 shares of Loews stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $80.88, for a total value of $212,552.64. Following the completion of the transaction, the vice president now owns 14,933 shares in the company, valued at approximately $1,207,781.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan C. Locker purchased 6,200 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were bought at an average price of $80.63 per share, for a total transaction of $499,906.00. Following the acquisition, the director now directly owns 23,068 shares in the company, valued at $1,859,972.84. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 91,215 shares of company stock worth $7,399,013 over the last 90 days. 18.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

L has been the topic of several recent analyst reports. Royal Bank of Canada upgraded shares of Loews to a “moderate buy” rating in a research report on Friday, July 26th. Jefferies Financial Group reduced their price target on shares of Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st.

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 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.