Trust Co. of Vermont acquired a new stake in shares of Loews Co. (NYSE:L – Get Rating) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,124 shares of the insurance provider's stock, valued at approximately $67,000.
Other institutional investors have also recently made changes to their positions in the company. Bank of Nova Scotia lifted its stake in Loews by 121.1% in the first quarter. Bank of Nova Scotia now owns 89,092 shares of the insurance provider's stock worth $5,775,000 after acquiring an additional 48,799 shares during the period. Victory Capital Management Inc. lifted its stake in Loews by 33.8% in the first quarter. Victory Capital Management Inc. now owns 162,227 shares of the insurance provider's stock worth $10,194,000 after acquiring an additional 40,961 shares during the period. Fort Washington Investment Advisors Inc. OH purchased a new stake in Loews in the first quarter worth $201,000. J.W. Cole Advisors Inc. purchased a new stake in Loews in the first quarter worth $220,000. Finally, Wealthspire Advisors LLC purchased a new stake in Loews in the first quarter worth $219,000. Hedge funds and other institutional investors own 58.61% of the company's stock.
Get Loews alerts:Wall Street Analyst Weigh In
A number of equities analysts have issued reports on L shares. TheStreet downgraded Loews from a "b" rating to a "c" rating in a report on Monday, August 1st. StockNews.com downgraded Loews from a "buy" rating to a "hold" rating in a report on Wednesday, August 3rd.
Loews Stock Down 2.6 %
Shares of NYSE:L traded down $1.33 on Monday, hitting $49.67. 995,384 shares of the company traded hands, compared to its average volume of 878,823. Loews Co. has a 52 week low of $49.36 and a 52 week high of $68.20. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $56.33 and a 200-day simple moving average of $60.33. The company has a market cap of $11.97 billion, a PE ratio of 11.52 and a beta of 0.81.Loews Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 30th. Investors of record on Wednesday, August 17th were issued a $0.0625 dividend. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $0.25 annualized dividend and a yield of 0.50%. Loews's payout ratio is 5.80%.
Insider Buying and Selling
In other Loews news, major shareholder Corp Loews acquired 76,954 shares of Loews stock in a transaction that occurred on Monday, September 19th. The stock was bought at an average cost of $39.26 per share, for a total transaction of $3,021,214.04. Following the acquisition, the insider now owns 243,806,709 shares of the company's stock, valued at $9,571,851,395.34. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders acquired 274,630 shares of company stock worth $10,802,190. 17.50% of the stock is owned by corporate insiders.
Loews Profile
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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 property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto and umbrella coverages.
Read More
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