Vanguard Group Inc. Decreases Stake in Loews Corporation $L

Vanguard Group Inc. lessened its holdings in shares of Loews Corporation (NYSE:L) by 1.5% in the 3rd quarter, Holdings Channel reports. The fund owned 19,317,182 shares of the insurance provider’s stock after selling 304,049 shares during the quarter. Vanguard Group Inc. owned 0.09% of Loews worth $1,939,252,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. SJS Investment Consulting Inc. boosted its holdings in shares of Loews by 880.8% during the 3rd quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 229 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new position in Loews during the second quarter worth approximately $27,000. NewSquare Capital LLC boosted its stake in Loews by 404.1% during the second quarter. NewSquare Capital LLC now owns 368 shares of the insurance provider’s stock worth $34,000 after buying an additional 295 shares during the last quarter. Westside Investment Management Inc. grew its holdings in 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 in the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in shares of Loews by 14,900.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 450 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 447 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Strong Buy”.

Loews Stock Performance

NYSE L opened at $108.37 on Friday. The stock has a fifty day simple moving average of $105.97 and a 200-day simple moving average of $101.97. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. The stock 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.

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

Loews Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Wednesday, February 25th. Loews’s dividend payout ratio (DPR) is currently 3.13%.

Insiders Place Their Bets

In related news, VP Marc A. Alpert sold 3,495 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $109.87, for a total transaction of $383,995.65. Following the transaction, the vice president owned 16,325 shares of the company’s stock, valued at approximately $1,793,627.75. This represents a 17.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $110.27, for a total value of $5,513,500.00. Following the completion of the transaction, the director directly owned 12,859,642 shares of the company’s stock, valued at approximately $1,418,032,723.34. This represents a 0.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 181,187 shares of company stock valued at $19,435,041. Insiders own 19.00% of the company’s stock.

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.