Loews Corporation $L Shares Sold by Swiss Life Asset Management Ltd

Swiss Life Asset Management Ltd decreased its stake in Loews Corporation (NYSE:L) by 29.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,906 shares of the insurance provider’s stock after selling 14,076 shares during the period. Swiss Life Asset Management Ltd’s holdings in Loews were worth $3,404,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in L. SJS Investment Consulting Inc. boosted its holdings in shares of Loews by 880.8% during the third quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 229 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in shares of Loews in the 2nd quarter worth about $27,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in Loews in the 3rd quarter valued at about $30,000. Westside Investment Management Inc. lifted its position in Loews by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 370 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 185 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its stake in Loews by 108.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 450 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 234 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Price Performance

Shares of L opened at $105.61 on Monday. Loews Corporation has a one year low of $78.98 and a one year high of $114.90. The stock’s fifty day moving average is $107.30 and its 200-day moving average is $104.09. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market capitalization of $21.76 billion, a price-to-earnings ratio of 13.23 and a beta of 0.60.

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

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, Director Ann E. Berman sold 1,922 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were 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 $550,579.68. This trade represents a 27.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Marc A. Alpert sold 3,495 shares of the business’s stock in a transaction that occurred 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 sale, the vice president directly owned 16,325 shares in the company, valued at approximately $1,793,627.75. The trade was a 17.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 105,417 shares of company stock worth $11,549,723 over the last three months. Corporate insiders own 19.00% of the company’s stock.

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.