Loews Corporation $L Shares Sold by First Trust Advisors LP

First Trust Advisors LP cut its holdings in shares of Loews Corporation (NYSE:L) by 28.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 377,787 shares of the insurance provider’s stock after selling 149,125 shares during the period. First Trust Advisors LP owned approximately 0.18% of Loews worth $34,628,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Loews during the 2nd quarter worth $665,658,000. Nuveen LLC acquired a new position in shares of Loews during the first quarter valued at $34,166,000. Swedbank AB raised its stake in shares of Loews by 44.8% during the first quarter. Swedbank AB now owns 556,350 shares of the insurance provider’s stock valued at $51,134,000 after purchasing an additional 172,004 shares in the last quarter. Northern Trust Corp lifted its holdings in Loews by 7.2% in the first quarter. Northern Trust Corp now owns 2,249,036 shares of the insurance provider’s stock worth $206,709,000 after purchasing an additional 151,428 shares during the period. Finally, Millennium Management LLC lifted its holdings in Loews by 140.4% in the first quarter. Millennium Management LLC now owns 251,175 shares of the insurance provider’s stock worth $23,085,000 after purchasing an additional 146,695 shares during the period. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock has an average rating of “Strong Buy”.

Loews Price Performance

NYSE L opened at $102.54 on Wednesday. Loews Corporation has a 1 year low of $78.98 and a 1 year high of $109.06. The business’s fifty day moving average is $102.61 and its two-hundred day moving average is $96.37. The stock has a market capitalization of $21.19 billion, a P/E ratio of 14.86 and a beta of 0.62. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.35 and a current ratio of 0.35.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, November 3rd. The insurance provider reported $2.43 earnings per share for the quarter. Loews had a return on equity of 7.89% and a net margin of 7.95%.The firm had revenue of $4.67 billion for the quarter.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Wednesday, November 26th were issued a dividend of $0.0625 per share. The ex-dividend date was Wednesday, November 26th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. Loews’s payout ratio is currently 3.62%.

Insiders Place Their Bets

In other news, Director Paul J. Fribourg sold 1,442 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $108.13, for a total value of $155,923.46. Following the completion of the sale, the director owned 400 shares in the company, valued at $43,252. This represents a 78.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ann E. Berman sold 1,444 shares of Loews stock in a transaction on Monday, December 1st. The shares were sold at an average price of $108.10, for a total value of $156,096.40. Following the transaction, the director owned 6,686 shares in the company, valued at $722,756.60. This represents a 17.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 75,770 shares of company stock worth $8,072,318 in the last quarter. Corporate insiders own 18.70% of the company’s stock.

Loews Profile

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.