Barclays PLC Sells 249,207 Shares of Loews Corporation $L

Barclays PLC cut its position in shares of Loews Corporation (NYSE:L) by 29.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 594,496 shares of the insurance provider’s stock after selling 249,207 shares during the quarter. Barclays PLC owned about 0.29% of Loews worth $59,681,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SJS Investment Consulting Inc. boosted its position in shares of Loews by 880.8% during the 3rd quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 229 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of Loews during the 2nd quarter worth approximately $27,000. Westside Investment Management Inc. grew its position in shares of Loews by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 370 shares of the insurance provider’s stock worth $37,000 after buying an additional 185 shares during the period. MTM Investment Management LLC acquired a new stake in shares of Loews during the 2nd quarter worth approximately $41,000. Finally, CYBER HORNET ETFs LLC bought a new stake in shares of Loews in the 2nd quarter valued at $44,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Transactions at Loews

In related news, Director Ann E. Berman sold 1,922 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $110.16, for a total transaction of $211,727.52. Following the completion of the sale, the director owned 4,998 shares in the company, valued at approximately $550,579.68. This represents a 27.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $110.27, for a total transaction of $5,513,500.00. Following the transaction, the director directly owned 12,859,642 shares in the company, valued at $1,418,032,723.34. This represents a 0.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 105,417 shares of company stock valued at $11,362,723 over the last ninety days. 18.70% of the stock is currently owned by insiders.

Loews Price Performance

Shares of L opened at $109.06 on Tuesday. The stock has a market cap of $22.47 billion, a P/E ratio of 13.67 and a beta of 0.60. The business’s fifty day moving average is $106.89 and its 200 day moving average is $103.38. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.43. Loews Corporation has a 12-month low of $78.98 and a 12-month high of $114.90.

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

Loews Announces Dividend

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

Wall Street Analyst Weigh In

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

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.