Hsbc Holdings PLC Grows Stake in Loews Co. (NYSE:L)

Hsbc Holdings PLC boosted its position in shares of Loews Co. (NYSE:L) by 5.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 692,116 shares of the insurance provider’s stock after purchasing an additional 33,125 shares during the quarter. Hsbc Holdings PLC owned about 0.31% of Loews worth $51,750,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc increased its holdings in shares of Loews by 244.0% in the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 266 shares during the period. Principal Securities Inc. purchased a new position in shares of Loews in the 4th quarter valued at $38,000. Family Firm Inc. purchased a new position in shares of Loews in the 2nd quarter valued at $46,000. Able Wealth Management LLC purchased a new position in shares of Loews in the 4th quarter valued at $48,000. Finally, Innealta Capital LLC purchased a new position in shares of Loews in the 2nd quarter valued at $51,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

L has been the topic of a number of analyst reports. Royal Bank of Canada upgraded Loews to a “moderate buy” rating in a report on Friday, July 26th. Jefferies Financial Group dropped their target price on Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st.

Insiders Place Their Bets

In other news, Director Ann E. Berman sold 1,087 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total value of $88,460.06. Following the completion of the transaction, the director now owns 4,998 shares of the company’s stock, valued at approximately $406,737.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Ann E. Berman sold 1,087 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total value of $88,460.06. Following the completion of the transaction, the director now owns 4,998 shares of the company’s stock, valued at approximately $406,737.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathan M. Tisch sold 25,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total value of $2,045,500.00. Following the completion of the transaction, the insider now directly owns 461,395 shares of the company’s stock, valued at approximately $37,751,338.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,215 shares of company stock valued at $7,399,013. 18.70% of the stock is owned by company insiders.

Loews Stock Down 0.9 %

Shares of L stock opened at $78.54 on Friday. Loews Co. has a 1-year low of $61.43 and a 1-year high of $83.54. The stock’s fifty day moving average price is $79.09 and its 200 day moving average price is $76.98. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The company has a market cap of $17.39 billion, a price-to-earnings ratio of 11.65 and a beta of 0.82.

Loews (NYSE:L) last announced 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 for the quarter.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 21st were given a dividend of $0.0625 per share. The ex-dividend date was Wednesday, August 21st. This represents a $0.25 dividend on an annualized basis and a yield of 0.32%. Loews’s dividend payout ratio is currently 3.71%.

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.