Loews Co. (NYSE:L) Stock Position Decreased by US Bancorp DE

US Bancorp DE cut its stake in shares of Loews Co. (NYSE:L) by 21.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,482 shares of the insurance provider’s stock after selling 2,047 shares during the period. US Bancorp DE’s holdings in Loews were worth $591,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in Loews by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider’s stock valued at $1,656,376,000 after purchasing an additional 507,513 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Loews by 2.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,183,138 shares of the insurance provider’s stock valued at $251,627,000 after buying an additional 69,459 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Loews by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider’s stock valued at $199,858,000 after buying an additional 161,810 shares during the period. AQR Capital Management LLC lifted its stake in Loews by 5.8% in the 2nd quarter. AQR Capital Management LLC now owns 820,800 shares of the insurance provider’s stock worth $61,347,000 after acquiring an additional 45,237 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in Loews by 5.0% during the 2nd quarter. Hsbc Holdings PLC now owns 692,116 shares of the insurance provider’s stock valued at $51,750,000 after acquiring an additional 33,125 shares in the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Price Performance

Shares of NYSE:L opened at $83.11 on Monday. The company has a market cap of $18.10 billion, a price-to-earnings ratio of 11.04 and a beta of 0.82. The business has a 50 day moving average price of $79.64 and a 200 day moving average price of $77.87. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48. Loews Co. has a twelve month low of $64.97 and a twelve month high of $83.54.

Insider Buying and Selling

In other 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 transaction of $5,052,500.00. Following the sale, the insider now directly owns 6,781,634 shares in the company, valued at approximately $548,227,292.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Jonathan M. Tisch sold 62,500 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $80.84, for a total value of $5,052,500.00. Following the completion of the transaction, the insider now owns 6,781,634 shares of the company’s stock, valued at $548,227,292.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan M. Tisch sold 25,000 shares of Loews stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total value of $2,045,500.00. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 88,587 shares of company stock valued at $7,186,460 over the last three months. 18.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on L shares. Jefferies Financial Group lowered their price target on shares of Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a 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.