Hsbc Holdings PLC Sells 55,038 Shares of Loews Corporation $L

Hsbc Holdings PLC lowered its holdings in Loews Corporation (NYSE:L) by 8.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 585,560 shares of the insurance provider’s stock after selling 55,038 shares during the period. Hsbc Holdings PLC’s holdings in Loews were worth $62,485,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in L. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Loews by 12.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 369,994 shares of the insurance provider’s stock valued at $38,724,000 after acquiring an additional 39,968 shares in the last quarter. UBS Group AG raised its holdings in Loews by 4.8% in the 4th quarter. UBS Group AG now owns 811,194 shares of the insurance provider’s stock worth $85,427,000 after purchasing an additional 37,327 shares in the last quarter. Accurate Wealth Management LLC purchased a new stake in shares of Loews in the 4th quarter worth about $2,095,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Loews by 294.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 148,560 shares of the insurance provider’s stock worth $15,645,000 after purchasing an additional 110,901 shares during the period. Finally, SG Americas Securities LLC boosted 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 valued at $17,461,000 after purchasing an additional 162,781 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Loews

In other Loews news, Director Dino Robusto bought 5,000 shares of Loews stock in a transaction dated Friday, May 29th. The shares were purchased at an average cost of $104.74 per share, with a total value of $523,700.00. Following the transaction, the director directly owned 10,235 shares of the company’s stock, valued at $1,072,013.90. This represents a 95.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 19.00% of the stock is owned by corporate insiders.

Loews Trading Up 0.0%

L opened at $114.47 on Monday. 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 Corporation has a 52 week low of $89.32 and a 52 week high of $119.10. The stock has a market cap of $23.55 billion, a PE ratio of 14.55 and a beta of 0.52. The business has a 50 day moving average of $109.60 and a 200-day moving average of $108.31.

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

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were issued 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 was Wednesday, May 27th. Loews’s payout ratio is 3.18%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Loews from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “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.