Voya Investment Management LLC Sells 68,233 Shares of Loews Corporation $L

Voya Investment Management LLC reduced its stake in Loews Corporation (NYSE:L) by 30.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 157,280 shares of the insurance provider’s stock after selling 68,233 shares during the period. Voya Investment Management LLC owned approximately 0.08% of Loews worth $15,789,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC acquired a new stake in shares of Loews during the 2nd quarter worth $27,000. NewSquare Capital LLC increased its holdings in Loews by 404.1% in the 2nd quarter. NewSquare Capital LLC now owns 368 shares of the insurance provider’s stock valued at $34,000 after buying an additional 295 shares during the period. MTM Investment Management LLC bought a new stake in shares of Loews during the 2nd quarter worth approximately $41,000. Hantz Financial Services Inc. increased its stake in Loews by 14,900.0% in 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 during the last quarter. Finally, CYBER HORNET ETFs LLC acquired a new position in Loews during the second quarter valued at approximately $44,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Stock Performance

Shares of L stock opened at $108.12 on Tuesday. The firm has a market capitalization of $22.34 billion, a price-to-earnings ratio of 15.67 and a beta of 0.61. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.44. The business’s 50-day moving average price is $103.22 and its 200-day moving average price is $97.41. Loews Corporation has a 12 month low of $78.98 and a 12 month 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 firm had revenue of $4.67 billion for the quarter. Loews had a net margin of 7.95% and a return on equity of 7.89%.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Wednesday, November 26th were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews’s payout ratio is presently 3.62%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a research report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Loews currently has an average rating of “Strong Buy”.

Insider Transactions at Loews

In other news, Director Charles M. Diker sold 1,442 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $107.93, for a total value of $155,635.06. Following the completion of the sale, the director owned 21,594 shares of the company’s stock, valued at approximately $2,330,640.42. This represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $105.07, for a total value of $5,253,500.00. Following the completion of the transaction, the director directly owned 12,909,642 shares in the company, valued at approximately $1,356,416,084.94. This represents a 0.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 125,770 shares of company stock worth $13,325,818. 18.70% of the stock is currently owned by insiders.

Loews Company Profile

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.