Swedbank AB Purchases 21,352 Shares of Loews Corporation $L

Swedbank AB boosted its position in Loews Corporation (NYSE:L) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 464,458 shares of the insurance provider’s stock after purchasing an additional 21,352 shares during the quarter. Swedbank AB’s holdings in Loews were worth $48,912,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Loews by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider’s stock worth $2,045,759,000 after purchasing an additional 108,882 shares in the last quarter. Invesco Ltd. raised its holdings in Loews by 0.4% in the third quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider’s stock worth $337,698,000 after purchasing an additional 12,311 shares in the last quarter. Legal & General Group Plc raised its holdings in Loews by 0.4% in the third quarter. Legal & General Group Plc now owns 1,340,867 shares of the insurance provider’s stock worth $134,610,000 after purchasing an additional 4,792 shares in the last quarter. UBS Group AG grew its stake in shares of Loews by 4.8% during the fourth quarter. UBS Group AG now owns 811,194 shares of the insurance provider’s stock worth $85,427,000 after acquiring an additional 37,327 shares during the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of Loews by 12.1% during the third quarter. California State Teachers Retirement System now owns 777,030 shares of the insurance provider’s stock valued at $78,006,000 after acquiring an additional 83,669 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $108.81, for a total transaction of $5,440,500.00. Following the transaction, the director owned 12,480,400 shares in the company, valued at $1,357,992,324. This represents a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 19.00% of the stock is currently owned by company insiders.

Loews Stock Performance

L opened at $108.97 on Monday. Loews Corporation has a 52-week low of $86.77 and a 52-week high of $114.90. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46. The company has a market cap of $22.42 billion, a P/E ratio of 13.85 and a beta of 0.56. The firm’s 50-day moving average price is $108.07 and its 200-day moving average price is $106.82.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, May 4th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%. The firm had revenue of $4.56 billion for the quarter.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th will be issued a dividend of $0.0625 per share. The ex-dividend date is Wednesday, May 27th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s dividend payout ratio is 3.18%.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company currently has an average 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.