AustralianSuper Pty Ltd Has $12.03 Million Stock Position in Loews Corporation $L

AustralianSuper Pty Ltd reduced its holdings in Loews Corporation (NYSE:L) by 27.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 119,780 shares of the insurance provider’s stock after selling 46,057 shares during the period. AustralianSuper Pty Ltd owned approximately 0.06% of Loews worth $12,025,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. SJS Investment Consulting Inc. increased its position in Loews by 880.8% during the third quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 229 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in shares of Loews during the second quarter valued at about $27,000. NewSquare Capital LLC lifted its stake in shares of Loews by 404.1% in the second quarter. NewSquare Capital LLC now owns 368 shares of the insurance provider’s stock valued at $34,000 after buying an additional 295 shares during the period. Westside Investment Management Inc. grew its position in Loews by 100.0% during the third quarter. Westside Investment Management Inc. now owns 370 shares of the insurance provider’s stock worth $37,000 after buying an additional 185 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its position in Loews by 14,900.0% during the second quarter. Hantz Financial Services Inc. now owns 450 shares of the insurance provider’s stock worth $41,000 after buying an additional 447 shares in the last quarter. 58.33% of the stock is owned by institutional investors.

Insider Buying and Selling at Loews

In other news, VP Marc A. Alpert sold 3,495 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $109.87, for a total value of $383,995.65. Following the completion of the sale, the vice president directly owned 16,325 shares in the company, valued at approximately $1,793,627.75. This trade represents a 17.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ann E. Berman sold 1,922 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $110.16, for a total transaction of $211,727.52. Following the transaction, the director owned 4,998 shares in the company, valued at approximately $550,579.68. This trade represents a 27.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 105,417 shares of company stock worth $11,362,723. 18.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Loews Stock Down 0.6%

Shares of NYSE:L opened at $111.48 on Wednesday. The company’s fifty day moving average is $106.62 and its 200-day moving average is $102.97. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 0.36. Loews Corporation has a 52 week low of $78.98 and a 52 week high of $114.90. The company has a market capitalization of $22.97 billion, a PE ratio of 13.97 and a beta of 0.60.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, February 9th. The insurance provider reported $1.94 earnings per share (EPS) for the quarter. The firm 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, February 25th. Loews’s dividend payout ratio (DPR) is currently 3.13%.

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.