Loews Corporation $L Position Reduced by Swedbank AB

Swedbank AB trimmed its position in Loews Corporation (NYSE:L) by 2.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 452,897 shares of the insurance provider’s stock after selling 11,561 shares during the period. Swedbank AB’s holdings in Loews were worth $48,342,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DV Equities LLC acquired a new stake in Loews during the 4th quarter valued at $25,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Loews in the fourth quarter worth $27,000. Harbor Investment Advisory LLC acquired a new stake in shares of Loews in the fourth quarter worth $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in shares of Loews during the third quarter valued at $30,000. Finally, Private Trust Co. NA raised its position in Loews by 896.7% during the fourth quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock valued at $31,000 after buying an additional 269 shares during the period. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Strong Buy”.

Loews Trading Down 1.5%

Shares of NYSE:L opened at $115.15 on Thursday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $23.69 billion, a PE ratio of 14.63 and a beta of 0.52. Loews Corporation has a 1 year low of $89.32 and a 1 year high of $119.10. The firm has a fifty day moving average price of $108.71 and a 200 day moving average price of $107.94.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share for the quarter. The company had revenue of $4.55 billion during the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date was Wednesday, May 27th. Loews’s dividend payout ratio (DPR) is 3.18%.

Insider Activity at Loews

In other Loews news, Director Dino Robusto acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was acquired at an average price of $104.74 per share, with a total value of $523,700.00. Following the transaction, the director owned 10,235 shares of the company’s stock, valued at approximately $1,072,013.90. This trade represents a 95.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 19.00% of the company’s stock.

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.