USA Financial Formulas Trims Stock Position in Loews Co. (NYSE:L)

USA Financial Formulas lowered its stake in shares of Loews Co. (NYSE:L) by 10.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,604 shares of the insurance provider’s stock after selling 300 shares during the quarter. USA Financial Formulas’ holdings in Loews were worth $206,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of L. Versant Capital Management Inc raised its holdings in shares of Loews by 244.0% in the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 266 shares during the period. Kimelman & Baird LLC acquired a new stake in shares of Loews in the second quarter worth $45,000. Family Firm Inc. purchased a new position in shares of Loews in the 2nd quarter valued at $46,000. Able Wealth Management LLC acquired a new position in shares of Loews during the 4th quarter valued at $48,000. Finally, Innealta Capital LLC acquired a new stake in Loews in the 2nd quarter valued at $51,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Loews

In related news, insider Jonathan M. Tisch sold 62,500 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $80.84, for a total value 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. This trade represents a 0.00 % decrease in their position. The transaction 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 company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were purchased 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 of the company’s stock, valued at $1,859,972.84. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jonathan M. Tisch sold 62,500 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 6,781,634 shares of the company’s stock, valued at $548,227,292.56. 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 worth $7,399,013 over the last 90 days. Insiders own 18.70% of the company’s stock.

Loews Stock Down 0.1 %

L stock opened at $78.21 on Friday. The company has a market capitalization of $17.17 billion, a P/E ratio of 11.45 and a beta of 0.81. The firm has a 50 day simple moving average of $78.97 and a 200-day simple moving average of $77.18. 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 $62.18 and a twelve month high of $83.54.

Loews (NYSE:L) last issued its 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 disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 21st were issued 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 is presently 3.66%.

Wall Street Analysts Forecast Growth

L has been the subject of a number of recent research reports. Jefferies Financial Group lowered their target price on Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Royal Bank of Canada upgraded shares of Loews to a “moderate buy” rating in a research note on Friday, July 26th.

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.