abrdn plc Buys 30,875 Shares of Loews Co. (NYSE:L)

abrdn plc raised its stake in Loews Co. (NYSE:L) by 66.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,633 shares of the insurance provider’s stock after purchasing an additional 30,875 shares during the quarter. abrdn plc’s holdings in Loews were worth $5,402,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Optas LLC lifted its position in shares of Loews by 2.4% in the third quarter. Optas LLC now owns 7,615 shares of the insurance provider’s stock valued at $482,000 after buying an additional 181 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in shares of Loews by 5.5% in the third quarter. Coldstream Capital Management Inc. now owns 3,856 shares of the insurance provider’s stock valued at $244,000 after buying an additional 201 shares during the last quarter. Alaska Permanent Fund Corp lifted its position in shares of Loews by 1.5% in the third quarter. Alaska Permanent Fund Corp now owns 19,192 shares of the insurance provider’s stock valued at $1,215,000 after buying an additional 282 shares during the last quarter. Atria Wealth Solutions Inc. lifted its position in shares of Loews by 0.9% in the third quarter. Atria Wealth Solutions Inc. now owns 32,736 shares of the insurance provider’s stock valued at $2,073,000 after buying an additional 295 shares during the last quarter. Finally, New Mexico Educational Retirement Board lifted its holdings in Loews by 3.2% during the 3rd quarter. New Mexico Educational Retirement Board now owns 9,795 shares of the insurance provider’s stock worth $620,000 after purchasing an additional 300 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors.

Loews Stock Performance

NYSE:L opened at $75.46 on Friday. The stock has a market cap of $16.77 billion, a P/E ratio of 11.98 and a beta of 0.83. The stock has a 50 day simple moving average of $75.74 and a 200 day simple moving average of $71.32. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.48. Loews Co. has a 1-year low of $55.64 and a 1-year high of $78.55.

Loews (NYSE:L) last released its quarterly earnings results on Monday, February 5th. The insurance provider reported $1.99 earnings per share for the quarter. The business had revenue of $4.26 billion during the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Wednesday, February 21st were issued a dividend of $0.0625 per share. The ex-dividend date was Tuesday, February 20th. This represents a $0.25 annualized dividend and a yield of 0.33%. Loews’s payout ratio is currently 3.97%.

Insider Buying and Selling

In other Loews news, SVP Richard Waldo Scott sold 7,325 shares of Loews stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $74.12, for a total value of $542,929.00. Following the completion of the transaction, the senior vice president now directly owns 51,965 shares of the company’s stock, valued at approximately $3,851,645.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Loews news, Director Andrew H. Tisch sold 125,000 shares of Loews stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $73.04, for a total value of $9,130,000.00. Following the completion of the transaction, the director now directly owns 945,886 shares of the company’s stock, valued at approximately $69,087,513.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Richard Waldo Scott sold 7,325 shares of Loews stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $74.12, for a total value of $542,929.00. Following the completion of the transaction, the senior vice president now directly owns 51,965 shares of the company’s stock, valued at $3,851,645.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,563 shares of company stock valued at $10,052,551. Insiders own 18.70% of the company’s 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 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.