Swiss Life Asset Management Ltd Acquires 7,440 Shares of Loews Corporation $L

Swiss Life Asset Management Ltd boosted its holdings in Loews Corporation (NYSE:L) by 21.9% during the fourth quarter, Holdings Channel reports. The fund owned 41,346 shares of the insurance provider’s stock after purchasing an additional 7,440 shares during the period. Swiss Life Asset Management Ltd’s holdings in Loews were worth $4,354,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Loews by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider’s stock valued at $2,045,759,000 after purchasing an additional 108,882 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Loews by 0.4% during the 3rd quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider’s stock worth $337,698,000 after buying an additional 12,311 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Loews by 0.4% during the 3rd quarter. Legal & General Group Plc now owns 1,340,867 shares of the insurance provider’s stock worth $134,610,000 after buying an additional 4,792 shares during the period. UBS Group AG grew its stake in Loews by 4.8% in the 4th quarter. UBS Group AG now owns 811,194 shares of the insurance provider’s stock valued at $85,427,000 after buying an additional 37,327 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in Loews by 12.1% in the 3rd quarter. California State Teachers Retirement System now owns 777,030 shares of the insurance provider’s stock valued at $78,006,000 after buying an additional 83,669 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Buying and Selling

In other news, Director Andrew H. Tisch sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $108.81, for a total value of $5,440,500.00. Following the completion of the transaction, the director directly owned 12,480,400 shares in the company, valued at approximately $1,357,992,324. The trade was a 0.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Loews presently has an average rating of “Strong Buy”.

Loews Stock Up 1.0%

Shares of L opened at $105.13 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. Loews Corporation has a 12 month low of $86.77 and a 12 month high of $114.90. The firm’s 50 day moving average is $108.26 and its 200-day moving average is $106.44. The stock has a market capitalization of $21.63 billion, a PE ratio of 13.36 and a beta of 0.56.

Loews (NYSE:L) last released its earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share for the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.The firm had revenue of $4.56 billion during the quarter.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, May 27th. Loews’s dividend payout ratio (DPR) is currently 3.18%.

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.