Hsbc Holdings PLC Sells 30,052 Shares of Loews Corporation $L

Hsbc Holdings PLC lowered its stake in shares of Loews Corporation (NYSE:L) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 640,598 shares of the insurance provider’s stock after selling 30,052 shares during the period. Hsbc Holdings PLC owned approximately 0.31% of Loews worth $67,558,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in L. DV Equities LLC acquired a new position in shares of Loews during the fourth quarter valued at about $25,000. Harbor Capital Advisors Inc. bought a new position in Loews in the 4th quarter valued at about $27,000. Harbor Investment Advisory LLC acquired a new position in Loews during the 4th quarter valued at about $30,000. Private Trust Co. NA boosted its stake in Loews by 896.7% during the 4th quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 269 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in Loews during the 3rd quarter worth approximately $30,000. Institutional investors own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Loews

In related news, Director Dino Robusto purchased 5,000 shares of the business’s stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $104.74 per share, with a total value of $523,700.00. Following the purchase, the director directly owned 10,235 shares in the company, valued at approximately $1,072,013.90. This represents a 95.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 19.00% of the stock is currently owned by insiders.

Loews Stock Performance

Shares of L opened at $108.15 on Tuesday. The firm has a market cap of $22.25 billion, a PE ratio of 13.74 and a beta of 0.53. The stock’s fifty day moving average price is $107.91 and its two-hundred day moving average price is $107.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.36 and a quick ratio of 0.36. Loews Corporation has a 1 year low of $88.76 and a 1 year high of $114.90.

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

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Wednesday, May 27th. Loews’s dividend payout ratio is 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.