LSV Asset Management Reduces Stock Position in Loews Corporation $L

LSV Asset Management decreased its position in Loews Corporation (NYSE:L) by 25.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 102,800 shares of the insurance provider’s stock after selling 34,300 shares during the period. LSV Asset Management’s holdings in Loews were worth $10,320,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. CPC Advisors LLC acquired a new position in shares of Loews during the 3rd quarter valued at $6,568,000. Swedbank AB increased its holdings in Loews by 9.7% in the 3rd quarter. Swedbank AB now owns 443,106 shares of the insurance provider’s stock valued at $44,483,000 after purchasing an additional 39,313 shares in the last quarter. Assetmark Inc. raised its position in Loews by 182.2% in the second quarter. Assetmark Inc. now owns 1,967 shares of the insurance provider’s stock valued at $180,000 after purchasing an additional 1,270 shares during the period. Rakuten Investment Management Inc. acquired a new position in shares of Loews during the third quarter worth about $3,827,000. Finally, Permanent Capital Management LP purchased a new stake in shares of Loews in the third quarter worth about $1,551,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Stock Performance

Shares of L stock opened at $108.70 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.36 and a quick ratio of 0.35. The company’s fifty day moving average price is $105.47 and its two-hundred day moving average price is $101.53. The firm has a market capitalization of $22.40 billion, a P/E ratio of 13.62 and a beta of 0.61. Loews Corporation has a 12 month low of $78.98 and a 12 month high of $114.90.

Loews (NYSE:L) last announced its earnings results on Monday, February 9th. The insurance provider reported $1.94 earnings per share for the quarter. Loews had a return on equity of 8.86% and a net margin of 9.03%.The company had revenue of $4.73 billion during the quarter.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th will be given a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s payout ratio is presently 3.13%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Strong Buy”.

Insider Transactions at Loews

In other news, Director Paul J. Fribourg sold 1,442 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $108.13, for a total value of $155,923.46. Following the transaction, the director directly owned 400 shares in the company, valued at approximately $43,252. This trade represents a 78.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ann E. Berman sold 1,922 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $110.16, for a total transaction of $211,727.52. Following the completion of the transaction, the director directly owned 4,998 shares in the company, valued at $550,579.68. This represents a 27.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 131,187 shares of company stock valued at $13,921,541 over the last 90 days. Corporate insiders own 19.00% of the company’s stock.

Loews 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.