Loews Corporation $L Shares Bought by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lifted its position in shares of Loews Corporation (NYSE:L) by 40.2% in the third quarter, Holdings Channel reports. The firm owned 64,868 shares of the insurance provider’s stock after purchasing an additional 18,600 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Loews were worth $6,512,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of L. Integrated Wealth Concepts LLC grew its stake in Loews by 22.6% during the first quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider’s stock worth $329,000 after buying an additional 658 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Loews by 9.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider’s stock worth $2,108,000 after buying an additional 2,057 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Loews by 12.2% in the first quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock worth $350,000 after buying an additional 414 shares during the last quarter. Woodline Partners LP raised its holdings in Loews by 37.5% in the first quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock valued at $1,372,000 after acquiring an additional 4,071 shares in the last quarter. Finally, CWM LLC boosted its stake in Loews by 27.8% during the 2nd quarter. CWM LLC now owns 5,640 shares of the insurance provider’s stock valued at $517,000 after acquiring an additional 1,227 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Insider Activity at Loews

In other news, VP Marc A. Alpert sold 3,495 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $109.87, for a total value of $383,995.65. Following the completion of the sale, the vice president directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul J. Fribourg sold 1,442 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $108.13, for a total value of $155,923.46. Following the sale, the director directly owned 400 shares in the company, valued at approximately $43,252. The trade was a 78.28% decrease in their position. 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. 19.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company has an average rating of “Strong Buy”.

Loews Trading Down 0.3%

Shares of NYSE L opened at $108.37 on Friday. Loews Corporation has a 12-month low of $78.98 and a 12-month high of $114.90. 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’s 50 day simple moving average is $105.97 and its 200 day simple moving average is $101.97. The company has a market cap of $22.33 billion, a price-to-earnings ratio of 13.58 and a beta of 0.61.

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

Loews Announces Dividend

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

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.