Loews Co. (NYSE:L) Holdings Trimmed by Swiss National Bank

Swiss National Bank lowered its position in shares of Loews Co. (NYSE:L) by 5.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 527,061 shares of the insurance provider’s stock after selling 31,900 shares during the quarter. Swiss National Bank owned 0.24% of Loews worth $44,637,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. State Street Corp boosted its stake in Loews by 1.0% during the third quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock valued at $638,506,000 after buying an additional 82,581 shares in the last quarter. Geode Capital Management LLC boosted its stake in Loews by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider’s stock valued at $336,005,000 after buying an additional 53,428 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Loews by 0.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider’s stock valued at $268,640,000 after buying an additional 8,750 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Loews by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,623,291 shares of the insurance provider’s stock valued at $137,477,000 after buying an additional 11,540 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Loews by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider’s stock valued at $109,067,000 after buying an additional 77,386 shares in the last quarter. Institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling

In related news, Director Jonathan M. Tisch sold 3,691 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew H. Tisch sold 7,533 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $84.35, for a total value of $635,408.55. Following the completion of the sale, the director now directly owns 1,568,191 shares of the company’s stock, valued at approximately $132,276,910.85. This represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 158,860 shares of company stock valued at $13,486,463. Corporate insiders own 18.70% of the company’s stock.

Loews Trading Up 2.1 %

Shares of NYSE L opened at $86.56 on Monday. Loews Co. has a 12 month low of $72.91 and a 12 month high of $88.29. The company has a market cap of $18.43 billion, a price-to-earnings ratio of 13.53 and a beta of 0.80. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. The business has a fifty day simple moving average of $84.75 and a 200-day simple moving average of $82.87.

Loews (NYSE:L) last announced its earnings results on Monday, February 10th. The insurance provider reported $0.86 EPS for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.29%. The ex-dividend date was Wednesday, February 26th. Loews’s dividend payout ratio is currently 3.91%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Loews from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

About Loews

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.