iA Global Asset Management Inc. Boosts Stake in Loews Co. (NYSE:L)

iA Global Asset Management Inc. raised its position in Loews Co. (NYSE:L) by 171.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,768 shares of the insurance provider’s stock after purchasing an additional 13,747 shares during the quarter. iA Global Asset Management Inc.’s holdings in Loews were worth $1,704,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. California State Teachers Retirement System lifted its position in Loews by 11.1% during the 1st quarter. California State Teachers Retirement System now owns 506,922 shares of the insurance provider’s stock worth $39,687,000 after acquiring an additional 50,514 shares in the last quarter. Virtus Investment Advisers Inc. purchased a new stake in Loews during the 1st quarter worth approximately $615,000. Public Employees Retirement Association of Colorado acquired a new position in shares of Loews in the 1st quarter valued at approximately $462,000. Magnetar Financial LLC bought a new stake in Loews in the first quarter valued at about $4,449,000. Finally, 1832 Asset Management L.P. raised its stake in Loews by 9.5% during the first quarter. 1832 Asset Management L.P. now owns 26,911 shares of the insurance provider’s stock valued at $2,107,000 after buying an additional 2,326 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on L shares. Royal Bank of Canada raised shares of Loews to a “moderate buy” rating in a report on Friday, July 26th. Jefferies Financial Group cut their target price on Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday.

Loews Trading Down 1.3 %

Shares of L traded down $1.05 during midday trading on Friday, hitting $78.15. The stock had a trading volume of 182,719 shares, compared to its average volume of 731,430. Loews Co. has a fifty-two week low of $61.29 and a fifty-two week high of $83.54. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The firm has a market cap of $17.16 billion, a P/E ratio of 11.62 and a beta of 0.83. The business has a 50-day simple moving average of $76.25 and a two-hundred day simple moving average of $75.52.

Loews (NYSE:L) last released its earnings results on Monday, July 29th. The insurance provider reported $1.67 earnings per share (EPS) for the quarter. Loews had a net margin of 9.14% and a return on equity of 9.26%. 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, June 11th. Stockholders of record on Wednesday, May 29th were paid a $0.0625 dividend. The ex-dividend date was Wednesday, May 29th. This represents a $0.25 annualized dividend and a dividend yield of 0.32%. Loews’s payout ratio is 3.71%.

Insider Activity at Loews

In other news, VP Mark S. Schwartz sold 2,628 shares of the firm’s stock in a transaction dated 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 directly owns 14,933 shares of the company’s stock, valued at approximately $1,207,781.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Jonathan M. Tisch sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $77.14, for a total transaction of $3,857,000.00. Following the completion of the sale, the insider now owns 457,799 shares of the company’s stock, valued at $35,314,614.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value 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 approximately $1,207,781.04. The disclosure for this sale can be found here. Insiders sold a total of 152,628 shares of company stock worth $11,801,053 in the last ninety days. 18.70% of the stock is currently owned by insiders.

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.