Lafayette Investments Inc. Sells 400 Shares of Loews Co. (NYSE:L)

by · The Markets Daily

Lafayette Investments Inc. decreased its stake in Loews Co. (NYSE:L – Free Report) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,974 shares of the insurance provider’s stock after selling 400 shares during the period. Loews accounts for about 1.3% of Lafayette Investments Inc.’s holdings, making the stock its 25th biggest holding. Lafayette Investments Inc.’s holdings in Loews were worth $6,006,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc lifted its holdings in shares of Loews by 244.0% in the second quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 266 shares in the last quarter. Kimelman & Baird LLC bought a new stake in Loews during the second quarter worth $45,000. Family Firm Inc. bought a new stake in Loews during the second quarter worth $46,000. Eastern Bank bought a new stake in Loews during the third quarter worth $47,000. Finally, Innealta Capital LLC bought a new stake in Loews during the second quarter worth $51,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on L. Royal Bank of Canada raised Loews to a “moderate buy” rating in a research report on Friday, July 26th. 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.

Read Our Latest Analysis on Loews

Insider Buying and Selling

In related news, insider Jonathan M. Tisch sold 25,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the completion of the transaction, the insider now directly owns 461,395 shares in the company, valued at $37,751,338.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Jonathan M. Tisch sold 25,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 461,395 shares in the company, valued at approximately $37,751,338.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan C. Locker acquired 6,200 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was purchased at an average price of $80.63 per share, with a total value of $499,906.00. Following the completion of the acquisition, the director now directly owns 23,068 shares in the company, valued at approximately $1,859,972.84. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 91,215 shares of company stock worth $7,399,013 over the last ninety days. 18.70% of the stock is owned by corporate insiders.

Loews Stock Performance

NYSE:L traded up $0.06 during trading hours on Thursday, reaching $81.00. The stock had a trading volume of 28,835 shares, compared to its average volume of 706,173. The stock has a market cap of $17.93 billion, a P/E ratio of 12.01 and a beta of 0.81. Loews Co. has a 12-month low of $62.18 and a 12-month high of $83.54. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a 50 day simple moving average of $79.60 and a 200 day simple moving average of $77.41.

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

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.31%. The ex-dividend date was Wednesday, August 21st. Loews’s dividend payout ratio (DPR) is presently 3.71%.

About Loews

(Free Report)

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.

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