Loews Co. (NYSE:L) Shares Sold by Eubel Brady & Suttman Asset Management Inc.

Eubel Brady & Suttman Asset Management Inc. reduced its stake in shares of Loews Co. (NYSE:L) by 3.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 261,401 shares of the insurance provider’s stock after selling 10,652 shares during the period. Loews accounts for about 2.8% of Eubel Brady & Suttman Asset Management Inc.’s portfolio, making the stock its 14th largest holding. Eubel Brady & Suttman Asset Management Inc. owned approximately 0.12% of Loews worth $19,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Advisor Group LLC lifted its holdings in Loews by 59.5% in the fourth quarter. Private Advisor Group LLC now owns 5,052 shares of the insurance provider’s stock valued at $352,000 after acquiring an additional 1,885 shares during the last quarter. Principal Securities Inc. acquired a new position in Loews in the fourth quarter valued at approximately $38,000. Teacher Retirement System of Texas lifted its holdings in Loews by 1.8% in the fourth quarter. Teacher Retirement System of Texas now owns 192,772 shares of the insurance provider’s stock valued at $13,415,000 after acquiring an additional 3,397 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Loews by 95.9% in the fourth quarter. BNP Paribas Financial Markets now owns 185,570 shares of the insurance provider’s stock valued at $12,914,000 after acquiring an additional 90,833 shares during the last quarter. Finally, AGF Management Ltd. acquired a new position in Loews in the fourth quarter valued at approximately $2,838,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Stock Performance

NYSE:L opened at $80.48 on Tuesday. The firm has a market capitalization of $17.67 billion, a PE ratio of 11.94 and a beta of 0.82. The business’s fifty day moving average price is $78.43 and its 200 day moving average price is $76.76. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. Loews Co. has a 12 month low of $61.43 and a 12 month high of $83.54.

Loews (NYSE:L) last released its quarterly earnings data 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 Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Wednesday, August 21st. This represents a $0.25 annualized dividend and a dividend yield of 0.31%. Loews’s dividend payout ratio (DPR) is 3.71%.

Insider Transactions at Loews

In related news, VP Mark S. Schwartz sold 2,628 shares of the 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 $1,207,781.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Loews news, Director Ann E. Berman sold 1,087 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total value of $88,460.06. Following the completion of the transaction, the director now directly owns 4,998 shares of the company’s stock, valued at $406,737.24. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Mark S. Schwartz sold 2,628 shares of the 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 $1,207,781.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,215 shares of company stock worth $7,399,013. Company insiders own 18.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. 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 report on Wednesday, July 31st. Royal Bank of Canada raised Loews to a “moderate buy” rating in a research report on Friday, July 26th.

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.