QRG Capital Management Inc. Decreases Stock Holdings in Loews Corporation $L

QRG Capital Management Inc. cut its holdings in Loews Corporation (NYSE:L) by 76.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,322 shares of the insurance provider’s stock after selling 87,277 shares during the period. QRG Capital Management Inc.’s holdings in Loews were worth $2,743,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank bought a new stake in Loews during the second quarter worth approximately $665,658,000. Geode Capital Management LLC increased its position in shares of Loews by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 4,609,107 shares of the insurance provider’s stock valued at $420,722,000 after purchasing an additional 28,552 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Loews by 0.7% during the 2nd quarter. Hsbc Holdings PLC now owns 728,940 shares of the insurance provider’s stock valued at $66,761,000 after buying an additional 4,750 shares during the period. AQR Capital Management LLC boosted its stake in Loews by 27.5% during the second quarter. AQR Capital Management LLC now owns 592,923 shares of the insurance provider’s stock worth $53,920,000 after buying an additional 127,782 shares during the period. Finally, Swiss National Bank increased its position in Loews by 3.7% during the second quarter. Swiss National Bank now owns 541,161 shares of the insurance provider’s stock valued at $49,603,000 after acquiring an additional 19,100 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

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

Loews Price Performance

L opened at $102.42 on Tuesday. The company has a market capitalization of $21.17 billion, a price-to-earnings ratio of 14.84 and a beta of 0.61. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.44. Loews Corporation has a 12-month low of $78.98 and a 12-month high of $109.06. The business’s fifty day simple moving average is $105.20 and its 200-day simple moving average is $99.59.

Loews (NYSE:L) last released its quarterly earnings data 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 during the quarter.

Loews Dividend Announcement

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

Insider Activity at Loews

In other Loews news, Director Paul J. Fribourg sold 1,442 shares of Loews stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $108.13, for a total value of $155,923.46. Following the transaction, the director owned 400 shares in the company, valued at $43,252. The trade was 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 the SEC website. Also, Director Charles M. Diker sold 1,442 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $107.93, for a total transaction of $155,635.06. Following the sale, the director directly owned 21,594 shares of the company’s stock, valued at approximately $2,330,640.42. The trade was a 6.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 125,770 shares of company stock valued at $13,325,818 over the last 90 days. Insiders own 18.70% of the company’s stock.

Loews 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.