Hsbc Holdings PLC Sells 30,052 Shares of Loews Corporation $L

Hsbc Holdings PLC lessened its holdings in shares of Loews Corporation (NYSE:L) by 4.5% during the fourth quarter, Holdings Channel reports. The firm owned 640,598 shares of the insurance provider’s stock after selling 30,052 shares during the quarter. Hsbc Holdings PLC’s holdings in Loews were worth $67,558,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Groupama Asset Managment purchased a new position in Loews during the 3rd quarter valued at $1,723,000. UBS Group AG lifted its position in shares of Loews by 4.8% in the 4th quarter. UBS Group AG now owns 811,194 shares of the insurance provider’s stock worth $85,427,000 after purchasing an additional 37,327 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Loews by 12.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 369,994 shares of the insurance provider’s stock valued at $38,724,000 after purchasing an additional 39,968 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Loews by 7.8% during the 3rd quarter. Citigroup Inc. now owns 199,531 shares of the insurance provider’s stock valued at $20,031,000 after purchasing an additional 14,362 shares in the last quarter. Finally, Accurate Wealth Management LLC purchased a new position in shares of Loews during the fourth quarter valued at about $2,095,000. Institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling at Loews

In other Loews news, Director Dino Robusto purchased 5,000 shares of the stock in a transaction dated Friday, May 29th. The shares were purchased 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. This trade represents a 95.51% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 19.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Loews Stock Performance

Shares of L stock opened at $108.15 on Tuesday. The company has a market capitalization of $22.25 billion, a price-to-earnings ratio of 13.74 and a beta of 0.53. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.36. Loews Corporation has a one year low of $88.76 and a one year high of $114.90. The company’s 50-day moving average is $107.91 and its 200 day moving average is $107.10.

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. Loews had a net margin of 8.83% and a return on equity of 8.51%. The company had revenue of $4.55 billion during the quarter.

Loews Announces Dividend

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

Loews Company 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.