Swiss National Bank Sells 300 Shares of Loews Co. (NYSE:L)

Swiss National Bank trimmed its holdings in Loews Co. (NYSE:L) by 0.1% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 558,961 shares of the insurance provider’s stock after selling 300 shares during the quarter. Swiss National Bank’s holdings in Loews were worth $44,186,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of L. Bessemer Group Inc. lifted its holdings in Loews by 453.9% in the first quarter. Bessemer Group Inc. now owns 18,429 shares of the insurance provider’s stock valued at $1,443,000 after acquiring an additional 15,102 shares during the period. Swedbank AB boosted its holdings in shares of Loews by 15.6% in the second quarter. Swedbank AB now owns 349,047 shares of the insurance provider’s stock worth $26,088,000 after buying an additional 47,013 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Loews by 8.2% during the second quarter. Nisa Investment Advisors LLC now owns 122,208 shares of the insurance provider’s stock valued at $9,134,000 after buying an additional 9,296 shares during the period. UniSuper Management Pty Ltd increased its holdings in Loews by 487.5% during the first quarter. UniSuper Management Pty Ltd now owns 14,483 shares of the insurance provider’s stock valued at $1,134,000 after buying an additional 12,018 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its stake in shares of Loews by 171.4% during the 1st quarter. iA Global Asset Management Inc. now owns 21,768 shares of the insurance provider’s stock worth $1,704,000 after acquiring an additional 13,747 shares during 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, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $83.26, for a total value of $4,163,000.00. Following the transaction, the director now owns 11,939,677 shares of the company’s stock, valued at $994,097,507.02. This represents a 0.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jonathan M. Tisch sold 25,000 shares of Loews stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.82, for a total value of $2,045,500.00. Following the sale, the insider now owns 461,395 shares of the company’s stock, valued at approximately $37,751,338.90. This trade represents a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 213,587 shares of company stock valued at $17,586,460 over the last 90 days. 18.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on L. Jefferies Financial Group reduced their price objective on Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Royal Bank of Canada raised Loews to a “moderate buy” rating in a research note on Friday, July 26th. Finally, StockNews.com cut Loews from a “strong-buy” rating to a “buy” rating in a research report on Wednesday.

Loews Trading Up 0.4 %

Shares of Loews stock opened at $84.49 on Thursday. Loews Co. has a twelve month low of $67.20 and a twelve month high of $84.68. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $80.14 and a 200-day moving average price of $78.29. The firm has a market cap of $18.40 billion, a price-to-earnings ratio of 11.22 and a beta of 0.82.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 27th will be given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Wednesday, November 27th. Loews’s dividend payout ratio is presently 3.32%.

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.