Loews Co. (NYSE:L) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its stake in shares of Loews Co. (NYSE:L) by 66.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 3,578 shares of the insurance provider’s stock after selling 7,243 shares during the period. Truist Financial Corp’s holdings in Loews were worth $267,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Loews by 2.5% in the first quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider’s stock worth $1,656,376,000 after acquiring an additional 507,513 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Loews by 1.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,259,802 shares of the insurance provider’s stock valued at $255,210,000 after purchasing an additional 37,953 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Loews by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider’s stock worth $199,858,000 after buying an additional 161,810 shares during the period. AQR Capital Management LLC grew its holdings in shares of Loews by 5.8% during the second quarter. AQR Capital Management LLC now owns 820,800 shares of the insurance provider’s stock valued at $61,347,000 after buying an additional 45,237 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in Loews by 5.0% during the second quarter. Hsbc Holdings PLC now owns 692,116 shares of the insurance provider’s stock valued at $51,750,000 after buying an additional 33,125 shares during the period. 58.33% of the stock is owned by institutional investors.

Insider Transactions at Loews

In other Loews news, Director Ann E. Berman sold 1,087 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total value of $88,460.06. Following the sale, the director now owns 4,998 shares of the company’s stock, valued at $406,737.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Loews news, VP Mark S. Schwartz sold 2,628 shares of the stock in a transaction on Tuesday, July 30th. The stock was 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 in the company, valued at $1,207,781.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ann E. Berman sold 1,087 shares of Loews stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total value of $88,460.06. Following the transaction, the director now directly owns 4,998 shares of the company’s stock, valued at approximately $406,737.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,215 shares of company stock valued at $7,399,013. 18.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently commented on L. Royal Bank of Canada raised shares of Loews to a “moderate buy” rating in a research report on Friday, July 26th. Jefferies Financial Group cut their price objective on Loews from $115.00 to $112.00 and set a “buy” rating for the company in a report on Wednesday, July 31st.

Loews Stock Performance

Shares of L opened at $81.82 on Friday. 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 one year low of $62.18 and a one year high of $83.54. The company’s fifty day moving average price is $79.38 and its 200 day moving average price is $77.32. The company has a market capitalization of $18.12 billion, a PE ratio of 12.14 and a beta of 0.81.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, July 29th. The insurance provider reported $1.67 EPS 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 for the quarter.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 21st were given a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.31%. Loews’s dividend payout ratio is currently 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.