Swiss National Bank Cuts Stock Position in Loews Corporation $L

Swiss National Bank trimmed its holdings in shares of Loews Corporation (NYSE:L) by 5.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 513,761 shares of the insurance provider’s stock after selling 27,400 shares during the period. Swiss National Bank’s holdings in Loews were worth $51,576,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in L. Integrated Wealth Concepts LLC grew its position in shares of Loews by 22.6% in the first quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider’s stock valued at $329,000 after purchasing an additional 658 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Loews by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider’s stock worth $2,108,000 after buying an additional 2,057 shares during the last quarter. Empowered Funds LLC increased its stake in Loews by 12.2% during the 1st quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock worth $350,000 after buying an additional 414 shares in the last quarter. Woodline Partners LP increased its stake in Loews by 37.5% during the 1st quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock worth $1,372,000 after buying an additional 4,071 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Loews by 116.4% during the second quarter. Allworth Financial LP now owns 1,266 shares of the insurance provider’s stock valued at $116,000 after acquiring an additional 681 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Insider Transactions at Loews

In related news, VP Marc A. Alpert sold 3,495 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $109.87, for a total value of $383,995.65. Following the transaction, the vice president directly owned 16,325 shares in the company, valued at approximately $1,793,627.75. This represents a 17.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ann E. Berman sold 1,922 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $110.16, for a total value of $211,727.52. Following the completion of the transaction, the director owned 4,998 shares of the company’s stock, valued at $550,579.68. The trade was a 27.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 105,417 shares of company stock worth $11,362,723 in the last 90 days. Insiders own 19.00% of the company’s stock.

Loews Stock Down 0.3%

NYSE L opened at $108.40 on Friday. The business’s fifty day simple moving average is $107.08 and its 200-day simple moving average is $103.54. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.43. The firm has a market cap of $22.34 billion, a PE ratio of 13.58 and a beta of 0.60. Loews Corporation has a 52 week low of $78.98 and a 52 week high of $114.90.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, February 9th. The insurance provider reported $1.94 earnings per share (EPS) for the quarter. Loews had a net margin of 9.03% and a return on equity of 8.86%. The firm had revenue of $4.73 billion during the quarter.

Loews Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s dividend payout ratio is 3.13%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company currently has an average rating of “Strong Buy”.

Loews Company Profile

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.