Janney Montgomery Scott LLC trimmed its position in Loews Co. (NYSE:L) by 45.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,853 shares of the insurance provider’s stock after selling 4,804 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Loews were worth $283,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Reilly Financial Advisors LLC increased its holdings in shares of Loews by 402.4% in the second quarter. Reilly Financial Advisors LLC now owns 2,135 shares of the insurance provider’s stock worth $103,000 after purchasing an additional 1,710 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Loews in the second quarter worth about $176,000. Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Loews in the first quarter worth about $201,000. Atria Investments LLC bought a new stake in shares of Loews in the first quarter worth about $206,000. Finally, Moors & Cabot Inc. bought a new stake in shares of Loews in the first quarter worth about $266,000. 62.13% of the stock is currently owned by hedge funds and other institutional investors.

In other Loews news, VP Marc A. Alpert sold 2,141 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $49.97, for a total transaction of $106,985.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 12.30% of the company’s stock.

Several equities research analysts have weighed in on the company. Deutsche Bank boosted their price objective on Loews from $51.00 to $54.00 and gave the stock a “hold” rating in a research note on Wednesday, August 1st. Zacks Investment Research cut Loews from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. ValuEngine cut Loews from a “buy” rating to a “hold” rating in a research note on Friday, May 18th. Finally, Citigroup raised Loews from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $63.10 to $30.70 in a research note on Monday, May 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $53.68.

Shares of NYSE L opened at $50.05 on Tuesday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.52. Loews Co. has a 1-year low of $45.01 and a 1-year high of $53.59. The company has a market cap of $15.85 billion, a price-to-earnings ratio of 17.06 and a beta of 0.68.

Loews (NYSE:L) last issued its quarterly earnings data on Monday, July 30th. The insurance provider reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.03. Loews had a return on equity of 4.11% and a net margin of 8.15%. The company had revenue of $3.59 billion for the quarter. During the same period in the previous year, the firm earned $0.68 earnings per share. analysts predict that Loews Co. will post 3.4 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 11th. Shareholders of record on Wednesday, August 29th will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Tuesday, August 28th. This represents a $0.25 annualized dividend and a yield of 0.50%. Loews’s payout ratio is currently 8.74%.

Loews Company Profile

Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States, Canada, the United Kingdom, Continental Europe, and Singapore. The company offers management and professional liability insurance and risk management services, and other specialized property and casualty coverages; commercial surety and fidelity bonds; and warranty and alternative risk services primarily for vehicles and cell phones.

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Institutional Ownership by Quarter for Loews (NYSE:L)

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