National Pension Service Purchases 10,986 Shares of Loews Corporation $L

National Pension Service increased its position in Loews Corporation (NYSE:L) by 30.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,960 shares of the insurance provider’s stock after purchasing an additional 10,986 shares during the period. National Pension Service’s holdings in Loews were worth $4,714,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of L. CPC Advisors LLC purchased a new position in Loews during the 3rd quarter worth $6,568,000. Swedbank AB lifted its position in shares of Loews by 9.7% during the third quarter. Swedbank AB now owns 443,106 shares of the insurance provider’s stock valued at $44,483,000 after purchasing an additional 39,313 shares in the last quarter. Assetmark Inc. boosted its holdings in Loews by 182.2% during the second quarter. Assetmark Inc. now owns 1,967 shares of the insurance provider’s stock worth $180,000 after purchasing an additional 1,270 shares during the last quarter. Rakuten Investment Management Inc. purchased a new position in Loews during the third quarter worth about $3,827,000. Finally, Permanent Capital Management LP bought a new stake in Loews in the 3rd quarter worth about $1,551,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Activity

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $105.07, for a total value of $5,253,500.00. Following the completion of the transaction, the director directly owned 12,909,642 shares of the company’s stock, valued at approximately $1,356,416,084.94. The trade was a 0.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Walter L. Harris sold 1,442 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $107.88, for a total transaction of $155,562.96. Following the completion of the transaction, the director owned 24,594 shares in the company, valued at approximately $2,653,200.72. This represents a 5.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 125,770 shares of company stock valued at $13,325,818. 18.70% of the stock is currently owned by insiders.

Loews Trading Up 1.5%

NYSE:L opened at $107.37 on Wednesday. The firm has a market capitalization of $22.19 billion, a P/E ratio of 15.56 and a beta of 0.61. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.35 and a quick ratio of 0.35. Loews Corporation has a one year low of $78.98 and a one year high of $109.06. The company’s 50-day simple moving average is $104.84 and its 200 day simple moving average is $100.54.

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

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Wednesday, November 26th were paid a $0.0625 dividend. 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 dividend payout ratio is currently 3.62%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

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.