Swedbank AB Has $30.01 Million Stake in Loews Co. (NYSE:L)

Swedbank AB raised its position in shares of Loews Co. (NYSE:L) by 8.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 379,647 shares of the insurance provider’s stock after acquiring an additional 30,600 shares during the period. Swedbank AB’s holdings in Loews were worth $30,011,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of L. Vanguard Group Inc. increased its stake in Loews by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider’s stock valued at $1,656,376,000 after buying an additional 507,513 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Loews by 1.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,259,802 shares of the insurance provider’s stock worth $255,210,000 after acquiring an additional 37,953 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Loews by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider’s stock worth $199,858,000 after acquiring an additional 161,810 shares in the last quarter. AQR Capital Management LLC boosted its position in Loews by 5.8% during the second quarter. AQR Capital Management LLC now owns 820,800 shares of the insurance provider’s stock valued at $61,347,000 after purchasing an additional 45,237 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in Loews by 5.0% in the second quarter. Hsbc Holdings PLC now owns 692,116 shares of the insurance provider’s stock valued at $51,750,000 after purchasing an additional 33,125 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Insider Activity at Loews

In other Loews news, insider Jonathan M. Tisch sold 25,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the completion of the sale, the insider now directly owns 461,395 shares in the company, valued at $37,751,338.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Loews news, insider Jonathan M. Tisch sold 62,500 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $80.84, for a total value of $5,052,500.00. Following the completion of the sale, the insider now directly owns 6,781,634 shares of the company’s stock, valued at $548,227,292.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan M. Tisch sold 25,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the transaction, the insider now owns 461,395 shares in the company, valued at approximately $37,751,338.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,215 shares of company stock worth $7,399,013. 18.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on L. Jefferies Financial Group reduced their price target on Loews from $115.00 to $112.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada raised shares of Loews to a “moderate buy” rating in a research report on Friday, July 26th.

Loews Price Performance

Shares of NYSE:L opened at $80.59 on Thursday. The stock has a market capitalization of $17.84 billion, a P/E ratio of 11.96 and a beta of 0.81. The business has a 50-day moving average of $79.21 and a two-hundred day moving average of $77.26. Loews Co. has a fifty-two week low of $62.18 and a fifty-two week high of $83.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34.

Loews (NYSE:L) last posted its earnings results on Monday, July 29th. The insurance provider reported $1.67 earnings per share for the quarter. Loews had a return on equity of 9.26% and a net margin of 9.14%. The firm had revenue of $4.27 billion during the quarter.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Wednesday, August 21st were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend was Wednesday, August 21st. Loews’s dividend payout ratio is currently 3.71%.

Loews Profile

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.