13,181 Loews Corporation $L Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its stake in Loews Corporation (NYSE:L) by 3.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 420,045 shares of the insurance provider’s stock after selling 13,181 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Loews were worth $43,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Loews in the second quarter valued at about $1,621,369,000. Dimensional Fund Advisors LP lifted its stake in Loews by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,270,492 shares of the insurance provider’s stock valued at $242,340,000 after buying an additional 28,016 shares during the period. Legal & General Group Plc bought a new position in Loews in the second quarter worth approximately $140,248,000. Bank of New York Mellon Corp acquired a new position in shares of Loews during the second quarter valued at about $107,461,000. Finally, Amundi lifted its holdings in shares of Loews by 12.6% in the second quarter. Amundi now owns 752,222 shares of the insurance provider’s stock valued at $85,159,000 after purchasing an additional 84,243 shares in the last quarter. Institutional investors own 58.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Loews from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating. Based on data from MarketBeat, Loews currently has a consensus rating of “Buy”.

Loews Trading Up 1.5%

Shares of L opened at $111.59 on Thursday. Loews Corporation has a 1-year low of $100.59 and a 1-year high of $121.01. The firm has a market capitalization of $22.57 billion, a price-to-earnings ratio of 15.21 and a beta of 0.49. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.44. The firm’s 50-day moving average price is $108.63 and its 200-day moving average price is $109.45.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, November 2nd. The insurance provider reported $1.50 earnings per share for the quarter. The company had revenue of $4.76 billion during the quarter. Loews had a net margin of 7.93% and a return on equity of 7.60%.

About Loews

Loews Corporation (NYSE:L) is a diversified holding company with operating businesses in insurance, energy infrastructure, hospitality and packaging. The company manages its portfolio through a combination of wholly owned subsidiaries and a significant ownership interest in CNA Financial Corporation, a commercial property and casualty insurance provider.

Loews’ wholly owned businesses include Boardwalk Pipelines, which owns and operates natural gas and natural gas liquids pipeline and storage assets; Loews Hotels & Co, which operates upscale hotels and resorts under brands including Loews Hotels and Universal’s hotels; and Altium Packaging, a manufacturer of rigid plastic containers and packaging products.