Swiss National Bank Sells 23,700 Shares of Loews Co. (NYSE:L)

Swiss National Bank cut its stake in shares of Loews Co. (NYSE:L) by 3.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 599,461 shares of the insurance provider’s stock after selling 23,700 shares during the period. Swiss National Bank owned about 0.27% of Loews worth $41,716,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its stake in shares of Loews by 316.1% in the third quarter. Assenagon Asset Management S.A. now owns 580,107 shares of the insurance provider’s stock worth $36,727,000 after buying an additional 440,693 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Loews by 118.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 286,708 shares of the insurance provider’s stock worth $18,151,000 after purchasing an additional 155,713 shares in the last quarter. Barclays PLC increased its holdings in shares of Loews by 34.9% in the third quarter. Barclays PLC now owns 577,591 shares of the insurance provider’s stock worth $36,568,000 after purchasing an additional 149,500 shares during the last quarter. Bank of Nova Scotia boosted its stake in Loews by 115.4% during the third quarter. Bank of Nova Scotia now owns 270,421 shares of the insurance provider’s stock valued at $17,120,000 after buying an additional 144,902 shares during the last quarter. Finally, Jump Financial LLC grew its holdings in Loews by 3,984.2% during the 3rd quarter. Jump Financial LLC now owns 146,910 shares of the insurance provider’s stock valued at $9,301,000 after buying an additional 143,313 shares in the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Loews Stock Up 0.1 %

Shares of L opened at $77.81 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.32 and a quick ratio of 0.32. The stock has a market capitalization of $17.29 billion, a price-to-earnings ratio of 12.35 and a beta of 0.82. Loews Co. has a 1 year low of $55.94 and a 1 year high of $78.55. The business’s 50 day simple moving average is $76.01 and its 200-day simple moving average is $71.97.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, May 6th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%. The business had revenue of $4.23 billion during the quarter.

Insider Activity

In other news, Director Paul J. Fribourg sold 951 shares of Loews stock in a transaction on Friday, March 1st. The stock was sold at an average price of $75.02, for a total transaction of $71,344.02. Following the completion of the sale, the director now directly owns 21,200 shares in the company, valued at $1,590,424. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Loews news, SVP Richard Waldo Scott sold 7,325 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $74.12, for a total transaction of $542,929.00. Following the transaction, the senior vice president now directly owns 51,965 shares in the company, valued at approximately $3,851,645.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul J. Fribourg sold 951 shares of Loews stock in a transaction on Friday, March 1st. The shares were sold at an average price of $75.02, for a total value of $71,344.02. Following the sale, the director now directly owns 21,200 shares of the company’s stock, valued at $1,590,424. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,563 shares of company stock valued at $10,052,551. 18.70% of the stock is currently owned by insiders.

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.