Loews Corporation $L Holdings Reduced by Aberdeen Group plc

Aberdeen Group plc lowered its position in Loews Corporation (NYSE:L) by 54.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,802 shares of the insurance provider’s stock after selling 58,058 shares during the quarter. Aberdeen Group plc’s holdings in Loews were worth $4,764,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Integrated Wealth Concepts LLC increased its position in Loews by 22.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider’s stock valued at $329,000 after acquiring an additional 658 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Loews by 9.9% during 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 acquiring an additional 2,057 shares during the period. Empowered Funds LLC grew its stake in shares of Loews by 12.2% in the first quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock worth $350,000 after purchasing an additional 414 shares in the last quarter. Woodline Partners LP increased its holdings in shares of Loews by 37.5% during the first quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock valued at $1,372,000 after purchasing an additional 4,071 shares during the period. Finally, CWM LLC raised its stake in shares of Loews by 27.8% during the second quarter. CWM LLC now owns 5,640 shares of the insurance provider’s stock valued at $517,000 after purchasing an additional 1,227 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Price Performance

Shares of Loews stock opened at $109.76 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average price is $106.08 and its two-hundred day moving average price is $102.09. Loews Corporation has a 52 week low of $78.98 and a 52 week high of $114.90. The stock has a market cap of $22.62 billion, a PE ratio of 13.75 and a beta of 0.61.

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

Loews Dividend Announcement

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

Insider Transactions at Loews

In other Loews news, Director Paul J. Fribourg sold 1,442 shares of the company’s 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 transaction, the director owned 400 shares of the company’s stock, valued at approximately $43,252. This represents a 78.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Marc A. Alpert sold 3,495 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $109.87, for a total value of $383,995.65. Following the sale, the vice president owned 16,325 shares of the company’s stock, valued at $1,793,627.75. This trade represents a 17.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 181,187 shares of company stock valued at $19,435,041 in the last 90 days. 19.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed 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 MarketBeat.com, the stock presently has a consensus rating of “Strong Buy”.

About Loews

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.