Guggenheim Capital LLC Reduces Stock Holdings in Loews Co. (NYSE:L)

Guggenheim Capital LLC trimmed its position in Loews Co. (NYSE:L) by 20.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,100 shares of the insurance provider’s stock after selling 7,253 shares during the period. Guggenheim Capital LLC’s holdings in Loews were worth $1,688,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Ellevest Inc. raised its stake in Loews by 114.2% during the 1st quarter. Ellevest Inc. now owns 484 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 258 shares during the period. TCI Wealth Advisors Inc. raised its stake in Loews by 108.1% during the 1st quarter. TCI Wealth Advisors Inc. now owns 489 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 254 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in Loews by 416.7% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 496 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 400 shares during the period. Ameritas Advisory Services LLC bought a new stake in Loews during the 1st quarter valued at approximately $35,000. Finally, Eagle Bay Advisors LLC bought a new stake in Loews during the 2nd quarter valued at approximately $36,000. 54.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Loews news, major shareholder Corp Loews acquired 4,456,050 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was bought at an average price of $39.29 per share, for a total transaction of $175,078,204.50. Following the acquisition, the insider now directly owns 248,414,738 shares in the company, valued at $9,760,215,056.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 18.30% of the company’s stock.

Loews Stock Performance

NYSE L opened at $62.09 on Friday. The company has a market cap of $14.00 billion, a P/E ratio of 11.80 and a beta of 0.83. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.33 and a current ratio of 0.33. The business’s 50 day moving average price is $61.30 and its 200-day moving average price is $59.19. Loews Co. has a fifty-two week low of $49.36 and a fifty-two week high of $63.93.

Loews (NYSE:L) last released its earnings results on Monday, July 31st. The insurance provider reported $1.58 earnings per share for the quarter. The firm had revenue of $3.93 billion for the quarter. Loews had a return on equity of 8.72% and a net margin of 8.21%.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 29th. Stockholders of record on Wednesday, August 16th were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Tuesday, August 15th. Loews’s dividend payout ratio is currently 4.75%.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Loews in a research note on Thursday, August 17th. They issued a “buy” rating on the stock.

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 property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto and umbrella coverages.