Flynn Zito Capital Management LLC Has $233,000 Position in Loews Co. (NYSE:L)

Flynn Zito Capital Management LLC cut its stake in Loews Co. (NYSE:L) by 8.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,123 shares of the insurance provider’s stock after selling 301 shares during the period. Flynn Zito Capital Management LLC’s holdings in Loews were worth $233,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of L. TD Asset Management Inc boosted its position in shares of Loews by 77.9% during the 2nd quarter. TD Asset Management Inc now owns 525,920 shares of the insurance provider’s stock worth $39,307,000 after acquiring an additional 230,231 shares in the last quarter. Natixis Advisors LLC boosted its holdings in shares of Loews by 3.7% in the 2nd quarter. Natixis Advisors LLC now owns 65,008 shares of the insurance provider’s stock valued at $4,859,000 after purchasing an additional 2,330 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Loews by 693.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,355 shares of the insurance provider’s stock worth $251,000 after buying an additional 2,932 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Loews during the 2nd quarter worth $57,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Loews by 7.6% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,648 shares of the insurance provider’s stock valued at $1,618,000 after buying an additional 1,524 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors.

Loews Trading Down 1.9 %

NYSE L opened at $79.39 on Friday. Loews Co. has a twelve month low of $61.43 and a twelve month high of $83.54. The business’s fifty day moving average is $78.32 and its 200 day moving average is $76.69. 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 company has a market cap of $17.58 billion, a price-to-earnings ratio of 11.78 and a beta of 0.83.

Loews (NYSE:L) last announced 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 firm had revenue of $4.27 billion for the quarter.

Loews Dividend Announcement

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

Analysts Set New Price Targets

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

Insider Activity

In related news, insider Jonathan M. Tisch sold 62,500 shares of the business’s stock in a transaction on 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 sale, the insider now owns 6,781,634 shares of the company’s stock, valued at $548,227,292.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, 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 sale, the insider now directly owns 6,781,634 shares in the company, valued at $548,227,292.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann E. Berman sold 1,087 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the sale, the director now directly owns 4,998 shares of the company’s stock, valued at approximately $406,737.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,215 shares of company stock valued at $7,399,013. Insiders own 18.70% of the company’s stock.

Loews 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.