13,340 Shares in Loews Corporation $L Acquired by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG bought a new stake in Loews Corporation (NYSE:L) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,340 shares of the insurance provider’s stock, valued at approximately $1,339,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Versant Capital Management Inc boosted its holdings in shares of Loews by 6.9% in the 3rd quarter. Versant Capital Management Inc now owns 1,606 shares of the insurance provider’s stock valued at $161,000 after purchasing an additional 104 shares during the last quarter. Moody Lynn & Lieberson LLC boosted its holdings in Loews by 2.9% in the third quarter. Moody Lynn & Lieberson LLC now owns 3,678 shares of the insurance provider’s stock valued at $369,000 after acquiring an additional 105 shares during the last quarter. Trustmark Bank Trust Department boosted its holdings in Loews by 0.7% in the second quarter. Trustmark Bank Trust Department now owns 16,263 shares of the insurance provider’s stock valued at $1,491,000 after acquiring an additional 115 shares during the last quarter. Wedmont Private Capital grew its position in Loews by 3.8% during the third quarter. Wedmont Private Capital now owns 3,291 shares of the insurance provider’s stock valued at $339,000 after acquiring an additional 120 shares during the period. Finally, Exchange Traded Concepts LLC increased its stake in Loews by 0.5% during the third quarter. Exchange Traded Concepts LLC now owns 25,996 shares of the insurance provider’s stock worth $2,610,000 after acquiring an additional 120 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Loews in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Strong Buy”.

Insiders Place Their Bets

In other Loews news, Director Ann E. Berman sold 1,444 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $108.10, for a total value of $156,096.40. Following the transaction, the director owned 6,686 shares in the company, valued at $722,756.60. The trade was a 17.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles M. Diker sold 1,442 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $107.93, for a total transaction of $155,635.06. Following the completion of the transaction, the director directly owned 21,594 shares of the company’s stock, valued at approximately $2,330,640.42. The trade was a 6.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 125,770 shares of company stock valued at $13,325,818. Corporate insiders own 18.70% of the company’s stock.

Loews Trading Up 0.5%

Shares of L opened at $102.82 on Thursday. Loews Corporation has a 12 month low of $78.98 and a 12 month high of $109.06. The stock’s 50-day moving average is $104.91 and its two-hundred day moving average is $100.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.35 and a quick ratio of 0.35. The stock has a market cap of $21.25 billion, a PE ratio of 14.90 and a beta of 0.61.

Loews (NYSE:L) last announced its earnings results on Monday, November 3rd. The insurance provider reported $2.43 EPS for the quarter. The business had revenue of $4.67 billion for the quarter. Loews had a return on equity of 7.89% and a net margin of 7.95%.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Wednesday, November 26th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, November 26th. Loews’s payout ratio is presently 3.62%.

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.