Arrowstreet Capital Limited Partnership Trims Stock Holdings in Loews Corporation $L

Arrowstreet Capital Limited Partnership lowered its holdings in shares of Loews Corporation (NYSE:L) by 20.5% in the second quarter, Holdings Channel.com reports. The fund owned 142,816 shares of the insurance provider’s stock after selling 36,726 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Loews were worth $13,091,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of L. Elevation Point Wealth Partners LLC purchased a new stake in shares of Loews during the second quarter valued at $27,000. Elequin Capital LP purchased a new stake in Loews in the 1st quarter valued at about $30,000. Zions Bancorporation National Association UT bought a new position in Loews in the 1st quarter worth about $33,000. NewSquare Capital LLC increased its position in shares of Loews by 404.1% during the second quarter. NewSquare Capital LLC now owns 368 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 295 shares during the period. Finally, Hantz Financial Services Inc. raised its stake in shares of Loews by 14,900.0% during the second quarter. Hantz Financial Services Inc. now owns 450 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 447 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research note on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company has an average rating of “Strong Buy”.

Loews Price Performance

NYSE L opened at $101.36 on Tuesday. The company has a market cap of $20.95 billion, a PE ratio of 14.69 and a beta of 0.61. The firm’s 50 day moving average price is $102.56 and its 200-day moving average price is $96.27. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.35 and a current ratio of 0.35. Loews Corporation has a 52-week low of $78.98 and a 52-week high of $109.06.

Loews (NYSE:L) last posted its earnings results on Monday, November 3rd. The insurance provider reported $2.43 earnings per share for the quarter. The company had revenue of $4.67 billion during the quarter. Loews had a return on equity of 7.89% and a net margin of 7.95%.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Wednesday, November 26th will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews’s dividend payout ratio (DPR) is presently 3.62%.

Insider Buying and Selling

In other news, Director Walter L. Harris sold 1,442 shares of Loews stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $107.88, for a total value of $155,562.96. Following the transaction, the director owned 24,594 shares of the company’s stock, valued at $2,653,200.72. The trade was a 5.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul J. Fribourg sold 1,442 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $108.13, for a total transaction of $155,923.46. Following the transaction, the director owned 400 shares of the company’s stock, valued at approximately $43,252. This trade represents a 78.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 75,770 shares of company stock valued at $8,072,318 over the last three months. Corporate insiders own 18.70% of the company’s stock.

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.