Loews Co. (NYSE:L) Shares Sold by Inspire Investing LLC

Inspire Investing LLC lowered its position in Loews Co. (NYSE:L) by 3.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,466 shares of the insurance provider’s stock after selling 950 shares during the quarter. Inspire Investing LLC’s holdings in Loews were worth $1,855,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in L. Versant Capital Management Inc raised its position in shares of Loews by 244.0% during the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 266 shares in the last quarter. Kimelman & Baird LLC purchased a new position in Loews in the second quarter valued at approximately $45,000. Family Firm Inc. acquired a new stake in Loews during the second quarter worth approximately $46,000. Innealta Capital LLC purchased a new stake in shares of Loews during the 2nd quarter worth approximately $51,000. Finally, Blue Trust Inc. boosted its holdings in shares of Loews by 80.9% in the 2nd quarter. Blue Trust Inc. now owns 693 shares of the insurance provider’s stock valued at $54,000 after buying an additional 310 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Buying and Selling

In other news, Director Ann E. Berman sold 1,087 shares of the business’s stock in a transaction dated 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 directly owns 4,998 shares in the company, valued at $406,737.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Loews news, VP Mark S. Schwartz sold 2,628 shares of the firm’s stock in a transaction 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 sale, the vice president now owns 14,933 shares of the company’s stock, valued at approximately $1,207,781.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann E. Berman sold 1,087 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 4,998 shares in the company, valued at approximately $406,737.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,215 shares of company stock valued at $7,399,013 over the last three months. 18.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Loews Trading Up 1.5 %

Shares of Loews stock opened at $79.35 on Monday. The company’s fifty day moving average is $78.96 and its two-hundred day moving average is $77.20. Loews Co. has a 1 year low of $62.18 and a 1 year high of $83.54. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The company 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 issued its quarterly earnings results on Monday, July 29th. The insurance provider reported $1.67 earnings per share (EPS) for the quarter. Loews had a return on equity of 9.26% and a net margin of 9.14%. The firm had revenue of $4.27 billion for the quarter.

Loews Dividend Announcement

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

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.