TD Asset Management Inc Decreases Stock Holdings in Loews Corporation $L

TD Asset Management Inc lowered its position in shares of Loews Corporation (NYSE:L) by 10.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 230,897 shares of the insurance provider’s stock after selling 27,019 shares during the period. TD Asset Management Inc owned 0.11% of Loews worth $23,180,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Loews during the 2nd quarter worth about $665,658,000. Geode Capital Management LLC increased its stake in Loews by 0.6% in the second quarter. Geode Capital Management LLC now owns 4,609,107 shares of the insurance provider’s stock valued at $420,722,000 after purchasing an additional 28,552 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Loews by 0.7% during the second quarter. Hsbc Holdings PLC now owns 728,940 shares of the insurance provider’s stock worth $66,761,000 after purchasing an additional 4,750 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Loews by 27.5% during the 2nd quarter. AQR Capital Management LLC now owns 592,923 shares of the insurance provider’s stock worth $53,920,000 after buying an additional 127,782 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Loews by 3.7% in the 2nd quarter. Swiss National Bank now owns 541,161 shares of the insurance provider’s stock valued at $49,603,000 after buying an additional 19,100 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

Loews Price Performance

L stock opened at $109.98 on Friday. 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 company has a market capitalization of $22.66 billion, a P/E ratio of 13.78 and a beta of 0.61. The business has a 50 day simple moving average of $106.46 and a 200-day simple moving average of $102.69. 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 EPS for the quarter. Loews had a net margin of 9.03% and a return on equity of 8.86%. The firm had revenue of $4.73 billion during the quarter.

Loews Announces Dividend

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

Insider Activity

In other Loews news, VP Marc A. Alpert sold 3,495 shares of Loews stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $109.87, for a total value of $383,995.65. Following the transaction, the vice president directly owned 16,325 shares in the company, valued at approximately $1,793,627.75. This trade represents a 17.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles M. Diker 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 $107.93, for a total value of $155,635.06. Following the sale, the director owned 21,594 shares of the company’s stock, valued at $2,330,640.42. This trade represents a 6.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have 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.