Mercer Global Advisors Inc. ADV Purchases New Position in Loews Co. (NYSE:L)

Mercer Global Advisors Inc. ADV acquired a new stake in Loews Co. (NYSE:L) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 57,666 shares of the insurance provider’s stock, valued at approximately $2,764,000.

Several other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in shares of Loews by 4.1% in the fourth quarter. BlackRock Inc. now owns 18,932,642 shares of the insurance provider’s stock worth $861,813,000 after buying an additional 739,962 shares during the last quarter. Norges Bank bought a new stake in Loews in the 4th quarter valued at $320,954,000. Geode Capital Management LLC increased its holdings in Loews by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 4,326,269 shares of the insurance provider’s stock valued at $196,648,000 after buying an additional 291,715 shares during the period. Northern Trust Corp increased its holdings in Loews by 5.3% in the 4th quarter. Northern Trust Corp now owns 3,758,591 shares of the insurance provider’s stock valued at $171,091,000 after buying an additional 189,513 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its holdings in Loews by 4,728.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,401,027 shares of the insurance provider’s stock valued at $75,000 after buying an additional 3,330,590 shares during the period. Institutional investors own 65.60% of the company’s stock.

Several equities research analysts have recently weighed in on L shares. Scotiabank reaffirmed an “average” rating and issued a $68.00 target price on shares of Loews in a report on Friday, February 22nd. Barclays reaffirmed an “average” rating and issued a $72.00 target price on shares of Loews in a report on Thursday, February 21st. Finally, Zacks Investment Research raised shares of Loews from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Tuesday, May 7th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Loews currently has a consensus rating of “Hold” and a consensus target price of $64.50.

In other news, CAO Mark S. Schwartz sold 11,415 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $47.85, for a total transaction of $546,207.75. Following the completion of the transaction, the chief accounting officer now directly owns 1 shares of the company’s stock, valued at approximately $47.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann E. Berman sold 1,399 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $48.24, for a total transaction of $67,487.76. Following the transaction, the director now directly owns 1,500 shares of the company’s stock, valued at $72,360. The disclosure for this sale can be found here. Insiders sold a total of 34,212 shares of company stock worth $1,694,904 over the last quarter. 14.20% of the stock is currently owned by corporate insiders.

NYSE:L traded down $0.08 during mid-day trading on Wednesday, reaching $52.42. 952,218 shares of the company were exchanged, compared to its average volume of 1,126,958. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.51. Loews Co. has a 12 month low of $42.06 and a 12 month high of $52.62. The firm has a market cap of $15.79 billion, a P/E ratio of 18.46 and a beta of 0.69.

Loews (NYSE:L) last released its earnings results on Monday, April 29th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.31. Loews had a net margin of 5.17% and a return on equity of 4.72%. The company had revenue of $3.76 billion for the quarter. During the same quarter in the previous year, the company posted $0.80 earnings per share. As a group, equities analysts predict that Loews Co. will post 3.4 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th will be given a $0.0625 dividend. The ex-dividend date of this dividend is Tuesday, May 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.48%. Loews’s dividend payout ratio is 8.80%.

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About Loews

Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally. It operates through CNA Financial Corporation; Diamond Offshore Drilling, Inc; Boardwalk Pipeline Partners, LP; and Loews Hotels Holding Corporation segments. The company offers specialty insurance products, such as management and professional liability insurance coverages and products; surety and fidelity bonds; and warranty and alternative risk services.

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Institutional Ownership by Quarter for Loews (NYSE:L)

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