Skandinaviska Enskilda Banken AB publ Sells 61,900 Shares of Loews Co. (NYSE:L)

Skandinaviska Enskilda Banken AB publ lessened its stake in shares of Loews Co. (NYSE:L) by 44.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,268 shares of the insurance provider’s stock after selling 61,900 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Loews were worth $6,436,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp boosted its position in shares of Loews by 1.0% during the 3rd quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock worth $638,506,000 after acquiring an additional 82,581 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Loews by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider’s stock valued at $336,005,000 after purchasing an additional 53,428 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Loews by 0.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider’s stock worth $268,640,000 after buying an additional 8,750 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Loews by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,623,291 shares of the insurance provider’s stock worth $137,477,000 after buying an additional 11,540 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Loews by 6.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider’s stock valued at $109,067,000 after buying an additional 77,386 shares in the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Jonathan M. Tisch sold 3,691 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Andrew H. Tisch sold 7,533 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total transaction of $635,408.55. Following the transaction, the director now owns 1,568,191 shares of the company’s stock, valued at approximately $132,276,910.85. The trade was a 0.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 158,860 shares of company stock valued at $13,486,463 over the last 90 days. 18.70% of the stock is owned by insiders.

Loews Stock Up 2.1 %

Shares of L opened at $86.56 on Friday. The stock has a market capitalization of $18.43 billion, a price-to-earnings ratio of 13.53 and a beta of 0.80. Loews Co. has a 52 week low of $72.91 and a 52 week high of $88.29. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a fifty day moving average of $84.75 and a 200-day moving average of $82.86.

Loews (NYSE:L) last released its quarterly earnings data on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a dividend of $0.0625 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. Loews’s dividend payout ratio (DPR) is presently 3.91%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Loews from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th.

About Loews

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.