Swedbank AB Acquires 21,352 Shares of Loews Corporation $L

Swedbank AB raised its holdings in shares of Loews Corporation (NYSE:L) by 4.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 464,458 shares of the insurance provider’s stock after purchasing an additional 21,352 shares during the quarter. Swedbank AB owned 0.22% of Loews worth $48,912,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new stake in shares of Loews during the fourth quarter worth $27,000. Harbor Investment Advisory LLC bought a new stake in shares of Loews during the fourth quarter worth $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in shares of Loews in the third quarter valued at about $30,000. Private Trust Co. NA raised its holdings in shares of Loews by 896.7% in the fourth quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 269 shares in the last quarter. Finally, Westfuller Advisors LLC bought a new stake in shares of Loews in the fourth quarter valued at about $36,000. 58.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated 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, According to data from MarketBeat.com, the stock has a consensus rating of “Strong Buy”.

Loews Stock Performance

L stock opened at $108.97 on Monday. 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 business has a 50-day moving average price of $108.07 and a 200 day moving average price of $106.82. The company has a market capitalization of $22.42 billion, a P/E ratio of 13.85 and a beta of 0.56. Loews Corporation has a 1-year low of $86.77 and a 1-year high of $114.90.

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

Loews Announces Dividend

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. The ex-dividend date is Wednesday, May 27th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews’s payout ratio is currently 3.18%.

Insider Buying and Selling

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of the business’s stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 19.00% of the company’s stock.

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.