Y Intercept Hong Kong Ltd Sells 16,167 Shares of Loews Corporation $L

Y Intercept Hong Kong Ltd reduced its holdings in shares of Loews Corporation (NYSE:L) by 70.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,726 shares of the insurance provider’s stock after selling 16,167 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Loews were worth $718,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Loews during the 4th quarter worth $577,279,000. Goldman Sachs Group Inc. increased its stake in shares of Loews by 32.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,237,922 shares of the insurance provider’s stock worth $340,986,000 after purchasing an additional 786,381 shares in the last quarter. Caisse de depot et placement du Quebec raised its holdings in Loews by 819.0% in the 4th quarter. Caisse de depot et placement du Quebec now owns 448,032 shares of the insurance provider’s stock worth $47,182,000 after purchasing an additional 399,281 shares during the period. Danske Bank A S bought a new position in Loews in the 3rd quarter worth $35,724,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Loews by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider’s stock worth $419,581,000 after purchasing an additional 344,995 shares during the period. 58.33% of the stock is currently owned by institutional investors.

Loews Stock Performance

L opened at $115.09 on Monday. The firm has a market cap of $23.68 billion, a P/E ratio of 14.62 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 company has a 50 day simple moving average of $108.84 and a two-hundred day simple moving average of $108.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.36 and a quick ratio of 0.36.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, May 4th. The insurance provider reported $1.63 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 $4.55 billion for the quarter.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Wednesday, May 27th. Loews’s dividend payout ratio is presently 3.18%.

Insider Transactions at Loews

In other Loews news, Director Dino Robusto purchased 5,000 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were acquired at an average cost of $104.74 per share, with a total value of $523,700.00. Following the completion of the acquisition, the director directly owned 10,235 shares in the company, valued at $1,072,013.90. The trade was a 95.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 19.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, According to 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.