Lafayette Investments Inc. Reduces Holdings in Loews Co. (NYSE:L)

Lafayette Investments Inc. lowered its holdings in Loews Co. (NYSE:L) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 75,974 shares of the insurance provider’s stock after selling 400 shares during the quarter. Loews makes up about 1.3% of Lafayette Investments Inc.’s investment portfolio, making the stock its 25th largest holding. Lafayette Investments Inc.’s holdings in Loews were worth $6,006,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Loews by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider’s stock worth $1,656,376,000 after buying an additional 507,513 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Loews by 2.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,183,138 shares of the insurance provider’s stock worth $251,627,000 after acquiring an additional 69,459 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Loews by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider’s stock worth $199,858,000 after acquiring an additional 161,810 shares in the last quarter. AQR Capital Management LLC raised its position in shares of 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 acquiring an additional 45,237 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of 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 acquiring an additional 33,125 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Wall Street Analysts Forecast Growth

L has been the subject of several research reports. 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. Royal Bank of Canada raised Loews to a “moderate buy” rating in a research report on Friday, July 26th.

Insiders Place Their Bets

In other Loews news, 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 value of $5,052,500.00. Following the completion of the sale, the insider now owns 6,781,634 shares of the company’s stock, valued at approximately $548,227,292.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Loews news, 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 value of $5,052,500.00. Following the completion of the sale, the insider now owns 6,781,634 shares of the company’s stock, valued at approximately $548,227,292.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan M. Tisch sold 25,000 shares of Loews stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.82, for a total value of $2,045,500.00. Following the completion of the sale, the insider now directly owns 461,395 shares of the company’s stock, valued at approximately $37,751,338.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,215 shares of company stock valued at $7,399,013. Corporate insiders own 18.70% of the company’s stock.

Loews Stock Up 0.1 %

L stock traded up $0.06 on Thursday, reaching $81.00. 28,835 shares of the company traded hands, compared to its average volume of 706,173. Loews Co. has a one year low of $62.18 and a one year high of $83.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The company has a market cap of $17.93 billion, a P/E ratio of 12.01 and a beta of 0.81. The firm has a fifty day simple moving average of $79.60 and a 200-day simple moving average of $77.41.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, July 29th. The insurance provider reported $1.67 earnings per share for the quarter. Loews had a return on equity of 9.26% and a net margin of 9.14%. The company had revenue of $4.27 billion during the quarter.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Wednesday, August 21st were given 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 of this dividend was Wednesday, August 21st. Loews’s dividend payout ratio (DPR) is presently 3.71%.

About Loews

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.