SG Americas Securities LLC Has $14.73 Million Stock Position in Loews Corporation $L

SG Americas Securities LLC decreased its position in shares of Loews Corporation (NYSE:L) by 16.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 138,009 shares of the insurance provider’s stock after selling 27,798 shares during the quarter. SG Americas Securities LLC’s holdings in Loews were worth $14,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Loews by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider’s stock worth $2,045,759,000 after acquiring an additional 108,882 shares during the period. Norges Bank bought a new stake in shares of Loews during the fourth quarter worth about $577,279,000. Geode Capital Management LLC raised its stake in shares of Loews by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider’s stock valued at $524,599,000 after acquiring an additional 271,234 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Loews by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider’s stock valued at $419,581,000 after purchasing an additional 344,995 shares during the period. Finally, Invesco Ltd. raised its position in shares of Loews by 0.4% during the third quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider’s stock worth $337,698,000 after acquiring an additional 12,311 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Loews news, Director Dino Robusto purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the acquisition, the director owned 10,235 shares of the company’s stock, valued at $1,072,013.90. The trade was a 95.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 19.00% of the company’s stock.

Loews Stock Performance

Shares of L stock opened at $110.97 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a 50-day moving average of $107.98 and a 200-day moving average of $107.24. Loews Corporation has a one year low of $89.20 and a one year high of $114.90. The company has a market cap of $22.83 billion, a P/E ratio of 14.10 and a beta of 0.53.

Loews (NYSE:L) last posted its earnings results on Monday, May 4th. The insurance provider reported $1.63 EPS for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%. The firm had revenue of $4.55 billion for the quarter.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th 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, May 27th. Loews’s dividend payout ratio (DPR) is presently 3.18%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock 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.