Swiss Life Asset Management Ltd Has $4.35 Million Stake in Loews Corporation $L

Swiss Life Asset Management Ltd grew its position in Loews Corporation (NYSE:L) by 21.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,346 shares of the insurance provider’s stock after purchasing an additional 7,440 shares during the period. Swiss Life Asset Management Ltd’s holdings in Loews were worth $4,354,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Danske Bank A S acquired a new stake in Loews in the 3rd quarter valued at approximately $35,724,000. Dark Forest Capital Management LP boosted its position in Loews by 582.8% during the 3rd quarter. Dark Forest Capital Management LP now owns 221,212 shares of the insurance provider’s stock worth $22,207,000 after acquiring an additional 188,812 shares during the last quarter. Amundi boosted its position in Loews by 41.6% during the 3rd quarter. Amundi now owns 610,657 shares of the insurance provider’s stock worth $62,513,000 after acquiring an additional 179,383 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Loews by 5,379.4% during the 4th quarter. SG Americas Securities LLC now owns 165,807 shares of the insurance provider’s stock worth $17,461,000 after acquiring an additional 162,781 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of Loews by 43.2% in the third quarter. CANADA LIFE ASSURANCE Co now owns 446,639 shares of the insurance provider’s stock valued at $44,492,000 after purchasing an additional 134,777 shares during the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $108.81, for a total value of $5,440,500.00. Following the completion of the transaction, the director owned 12,480,400 shares of the company’s stock, valued at $1,357,992,324. This trade represents a 0.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 19.00% of the stock is currently owned by corporate insiders.

Loews Stock Up 1.0%

L stock opened at $105.13 on Friday. The company has a market cap of $21.63 billion, a price-to-earnings ratio of 13.36 and a beta of 0.56. Loews Corporation has a twelve month low of $86.77 and a twelve month high of $114.90. The business has a 50 day moving average price of $108.26 and a two-hundred day moving average price of $106.44. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, May 4th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter. The company had revenue of $4.56 billion for the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, May 27th. Loews’s dividend payout ratio is 3.18%.

Wall Street Analyst Weigh In

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

About Loews

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.