Loews Corporation $L Shares Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ boosted its holdings in Loews Corporation (NYSE:L) by 40.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 64,868 shares of the insurance provider’s stock after acquiring an additional 18,600 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Loews were worth $6,512,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. SJS Investment Consulting Inc. grew its stake in shares of Loews by 880.8% during the 3rd quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 229 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in Loews during the second quarter worth about $27,000. NewSquare Capital LLC increased its holdings in Loews by 404.1% in the second quarter. NewSquare Capital LLC now owns 368 shares of the insurance provider’s stock valued at $34,000 after buying an additional 295 shares in the last quarter. Westside Investment Management Inc. lifted its position in shares of Loews by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 370 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 185 shares during the period. Finally, MTM Investment Management LLC purchased a new stake in shares of Loews during the 2nd quarter worth approximately $41,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Ann E. Berman sold 1,922 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $110.16, for a total transaction of $211,727.52. Following the transaction, the director owned 4,998 shares of the company’s stock, valued at approximately $550,579.68. This represents a 27.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Marc A. Alpert sold 3,495 shares of Loews stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $109.87, for a total transaction of $383,995.65. Following the completion of the sale, the vice president directly owned 16,325 shares of the company’s stock, valued at $1,793,627.75. The trade was a 17.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 181,187 shares of company stock valued at $19,435,041. 19.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Loews Price Performance

L stock opened at $108.37 on Friday. The stock’s 50 day moving average price is $105.97 and its 200 day moving average price is $101.97. The firm has a market cap of $22.33 billion, a P/E ratio of 13.58 and a beta of 0.61. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 0.36. Loews Corporation has a 1 year low of $78.98 and a 1 year high of $114.90.

Loews (NYSE:L) last released its quarterly earnings results on Monday, February 9th. The insurance provider reported $1.94 earnings per share for the quarter. The company had revenue of $4.73 billion during 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 will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th will be issued a dividend of $0.0625 per share. The ex-dividend date is Wednesday, February 25th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. Loews’s payout ratio is 3.13%.

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.