Vanguard Group Inc. Reduces Stake in Loews Corporation $L

Vanguard Group Inc. lessened its holdings in Loews Corporation (NYSE:L) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,317,182 shares of the insurance provider’s stock after selling 304,049 shares during the quarter. Vanguard Group Inc. owned about 9.31% of Loews worth $1,939,252,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of L. SJS Investment Consulting Inc. increased its stake in shares of Loews by 880.8% in the third quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 229 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in Loews in the second quarter valued at $27,000. NewSquare Capital LLC grew its position in Loews by 404.1% during the 2nd quarter. NewSquare Capital LLC now owns 368 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 295 shares during the period. Westside Investment Management Inc. lifted its holdings in shares of Loews by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 370 shares of the insurance provider’s stock valued at $37,000 after buying an additional 185 shares during the period. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Loews by 14,900.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 450 shares of the insurance provider’s stock valued at $41,000 after buying an additional 447 shares during the period. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Charles M. Diker sold 1,442 shares of Loews stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $107.93, for a total value of $155,635.06. Following the sale, the director directly owned 21,594 shares of the company’s stock, valued at $2,330,640.42. The trade was a 6.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ann E. Berman sold 1,922 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $110.16, for a total value of $211,727.52. Following the completion of the transaction, the director directly 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. 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 owned by company 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 research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Strong Buy”.

Loews Price Performance

Shares of Loews stock opened at $108.37 on Friday. The firm has a market cap of $22.33 billion, a PE ratio of 13.58 and a beta of 0.61. Loews Corporation has a twelve month low of $78.98 and a twelve month high of $114.90. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $105.97 and a 200 day moving average price of $101.97.

Loews (NYSE:L) last issued its quarterly earnings data on Monday, February 9th. The insurance provider reported $1.94 EPS for the quarter. The company had revenue of $4.73 billion for the quarter. Loews had a return on equity of 8.86% and a net margin of 9.03%.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th will be issued 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, February 25th. Loews’s dividend payout ratio (DPR) is presently 3.13%.

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.