AustralianSuper Pty Ltd Has $8.24 Million Stake in Loews Co. (NYSE:L)

AustralianSuper Pty Ltd trimmed its holdings in shares of Loews Co. (NYSE:L - Free Report) by 50.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,210 shares of the insurance provider's stock after selling 104,322 shares during the period. AustralianSuper Pty Ltd's holdings in Loews were worth $8,238,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Loews by 5.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 174,867 shares of the insurance provider's stock valued at $13,690,000 after purchasing an additional 8,527 shares during the period. Mediolanum International Funds Ltd bought a new stake in shares of Loews in the first quarter worth $1,516,000. Bessemer Group Inc. increased its stake in shares of Loews by 453.9% in the first quarter. Bessemer Group Inc. now owns 18,429 shares of the insurance provider's stock worth $1,443,000 after buying an additional 15,102 shares during the last quarter. Swedbank AB increased its stake in shares of Loews by 15.6% in the second quarter. Swedbank AB now owns 349,047 shares of the insurance provider's stock worth $26,088,000 after buying an additional 47,013 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Loews by 25.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 218,841 shares of the insurance provider's stock worth $17,133,000 after buying an additional 44,426 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company's stock.

Loews Price Performance

Loews stock traded down $1.40 during midday trading on Thursday, hitting $78.96. The company's stock had a trading volume of 704,148 shares, compared to its average volume of 707,934. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. The stock's 50-day moving average price is $79.73 and its 200-day moving average price is $77.60. Loews Co. has a 12 month low of $63.23 and a 12 month high of $83.54. The company has a market capitalization of $17.33 billion, a PE ratio of 11.56 and a beta of 0.81.

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

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st were issued 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 0.32%. Loews's dividend payout ratio is 3.66%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Jefferies Financial Group decreased their price objective on shares of Loews from $115.00 to $112.00 and set a "buy" rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada raised shares of Loews to a "moderate buy" rating in a report on Friday, July 26th.

Insider Activity

In related news, insider Jonathan M. Tisch sold 62,500 shares of the business's stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $80.84, for a total value of $5,052,500.00. Following the completion of the sale, the insider now owns 6,781,634 shares of the company's stock, valued at approximately $548,227,292.56. 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 news, insider Jonathan M. Tisch sold 25,000 shares of the company's stock in a transaction that occurred on 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan M. Tisch sold 62,500 shares of the company's stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $80.84, for a total value of $5,052,500.00. Following the transaction, the insider now owns 6,781,634 shares of the company's stock, valued at approximately $548,227,292.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 88,587 shares of company stock worth $7,186,460 in the last 90 days. Company insiders own 18.70% of the company's stock.

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.