Prudential PLC Has $267,000 Stock Position in Loews Corporation $L

Prudential PLC reduced its position in Loews Corporation (NYSE:L) by 70.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,533 shares of the insurance provider’s stock after selling 5,962 shares during the period. Prudential PLC’s holdings in Loews were worth $267,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Loews during the fourth quarter worth approximately $577,279,000. Goldman Sachs Group Inc. increased its stake in Loews by 32.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,237,922 shares of the insurance provider’s stock valued at $340,986,000 after acquiring an additional 786,381 shares during the last quarter. Danske Bank A S bought a new position in Loews in the third quarter valued at approximately $35,724,000. Geode Capital Management LLC increased its stake in Loews by 5.7% in 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. Finally, Arbejdsmarkedets Tillaegspension bought a new position in Loews in the fourth quarter valued at approximately $23,883,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Loews Stock Performance

Shares of Loews stock opened at $106.07 on Tuesday. Loews Corporation has a fifty-two week low of $86.77 and a fifty-two week high of $114.90. 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 market capitalization of $21.82 billion, a P/E ratio of 13.48 and a beta of 0.53. The company’s 50 day moving average price is $107.84 and its two-hundred day moving average price is $107.04.

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

Loews Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $108.81, for a total transaction of $5,440,500.00. Following the transaction, the director owned 12,480,400 shares in the company, valued at approximately $1,357,992,324. The trade was a 0.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dino Robusto purchased 5,000 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were acquired at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the acquisition, the director owned 10,235 shares of the company’s stock, valued at $1,072,013.90. This trade represents a 95.51% increase in their position. The SEC filing for this purchase provides additional information. 19.00% of the stock is currently owned by insiders.

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.