Mount Lucas Management LP Purchases 28,516 Shares of Loews Co. (NYSE:L)

Mount Lucas Management LP boosted its stake in Loews Co. (NYSE:L) by 43.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 94,603 shares of the insurance provider’s stock after buying an additional 28,516 shares during the period. Loews makes up 2.0% of Mount Lucas Management LP’s portfolio, making the stock its 5th largest holding. Mount Lucas Management LP’s holdings in Loews were worth $7,071,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Loews by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider’s stock worth $1,656,376,000 after purchasing an additional 507,513 shares in the last quarter. Norges Bank acquired a new stake in Loews in the fourth quarter valued at approximately $511,159,000. Allspring Global Investments Holdings LLC boosted its position in Loews by 1.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,259,802 shares of the insurance provider’s stock valued at $255,210,000 after buying an additional 37,953 shares in the last quarter. Northern Trust Corp boosted its position in Loews by 11.9% in the fourth quarter. Northern Trust Corp now owns 2,503,105 shares of the insurance provider’s stock valued at $174,191,000 after buying an additional 266,729 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Loews by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,587,817 shares of the insurance provider’s stock valued at $110,496,000 after buying an additional 21,323 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Transactions at Loews

In related news, VP Mark S. Schwartz sold 2,628 shares of Loews stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $80.88, for a total transaction of $212,552.64. Following the completion of the transaction, the vice president now owns 14,933 shares of the company’s stock, valued at $1,207,781.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Mark S. Schwartz sold 2,628 shares of Loews stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $80.88, for a total transaction of $212,552.64. Following the completion of the transaction, the vice president now owns 14,933 shares of the company’s stock, valued at $1,207,781.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $80.84, for a total transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,215 shares of company stock worth $7,399,013. Company insiders own 18.70% of the company’s stock.

Loews Trading Down 1.9 %

Shares of NYSE:L traded down $1.51 during mid-day trading on Friday, reaching $79.39. 965,783 shares of the company’s stock were exchanged, compared to its average volume of 718,289. The firm has a market capitalization of $17.58 billion, a price-to-earnings ratio of 11.78 and a beta of 0.82. The business’s fifty day moving average price is $78.32 and its 200-day moving average price is $76.71. 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 twelve month low of $61.43 and a twelve month high of $83.54.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, July 29th. The insurance provider reported $1.67 EPS for the quarter. The company 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. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.0625 per share. The ex-dividend date was Wednesday, August 21st. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.31%. Loews’s dividend payout ratio (DPR) is presently 3.71%.

Analysts Set New Price Targets

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

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.