Swiss National Bank Cuts Stake in Loews Corporation $L

Swiss National Bank lessened its holdings in shares of Loews Corporation (NYSE:L) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 513,761 shares of the insurance provider’s stock after selling 27,400 shares during the period. Swiss National Bank owned approximately 0.25% of Loews worth $51,576,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in L. SJS Investment Consulting Inc. grew its stake 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 worth $26,000 after acquiring an additional 229 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Loews in the 2nd quarter worth approximately $27,000. Westside Investment Management Inc. grew its position in 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 purchasing an additional 185 shares during the last quarter. MTM Investment Management LLC purchased a new stake in Loews during the 2nd quarter worth approximately $41,000. Finally, CYBER HORNET ETFs LLC acquired a new position in Loews during the 2nd quarter valued at approximately $44,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Strong Buy”.

Loews Stock Down 0.3%

Shares of L stock opened at $108.40 on Friday. Loews Corporation has a twelve month low of $78.98 and a twelve month high of $114.90. The stock has a market cap of $22.34 billion, a P/E ratio of 13.58 and a beta of 0.60. The stock has a 50 day moving average of $107.08 and a 200 day moving average of $103.54. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43.

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

Loews Dividend Announcement

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

Insider Activity at Loews

In other Loews news, VP Marc A. Alpert sold 3,495 shares of Loews stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $109.87, for a total value of $383,995.65. Following the completion of the transaction, the vice president owned 16,325 shares of the company’s stock, valued at approximately $1,793,627.75. The trade was a 17.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann E. Berman sold 1,922 shares of the company’s stock in a transaction dated 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 transaction, the director owned 4,998 shares of the company’s stock, valued at approximately $550,579.68. This trade represents a 27.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 105,417 shares of company stock worth $11,362,723. 19.00% of the stock is owned by company insiders.

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.