Swedbank AB Boosts Stock Position in Loews Co. (NYSE:L)

Swedbank AB raised its position in shares of Loews Co. (NYSE:L) by 1.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 384,346 shares of the insurance provider’s stock after purchasing an additional 4,699 shares during the quarter. Swedbank AB’s holdings in Loews were worth $32,550,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in L. Brooklyn Investment Group purchased a new stake in Loews during the 3rd quarter valued at $40,000. Eastern Bank bought a new position in shares of Loews in the third quarter worth approximately $47,000. Wilmington Savings Fund Society FSB purchased a new stake in Loews in the 3rd quarter worth $49,000. Quest Partners LLC purchased a new stake in shares of Loews during the third quarter worth about $129,000. Finally, Blue Trust Inc. raised its position in shares of Loews by 240.5% during the third quarter. Blue Trust Inc. now owns 2,360 shares of the insurance provider’s stock valued at $176,000 after buying an additional 1,667 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Insiders Place Their Bets

In other Loews news, Director Charles M. Diker sold 1,146 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $86.83, for a total value of $99,507.18. Following the completion of the sale, the director now owns 19,906 shares of the company’s stock, valued at approximately $1,728,437.98. This trade represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew H. Tisch sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $83.16, for a total transaction of $6,237,000.00. Following the sale, the director now directly owns 12,089,677 shares in the company, valued at approximately $1,005,377,539.32. This represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,679 shares of company stock worth $11,134,916 in the last three months. Corporate insiders own 18.70% of the company’s stock.

Loews Stock Performance

NYSE:L opened at $86.20 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. Loews Co. has a fifty-two week low of $71.45 and a fifty-two week high of $87.45. The firm has a market capitalization of $18.77 billion, a PE ratio of 11.45 and a beta of 0.83. The stock’s fifty day moving average is $84.73 and its 200 day moving average is $81.44.

Loews (NYSE:L) last released its earnings results on Monday, November 4th. The insurance provider reported $1.82 earnings per share for the quarter. The business had revenue of $4.47 billion during the quarter. Loews had a return on equity of 9.70% and a net margin of 9.71%.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. The ex-dividend date was Wednesday, November 27th. Loews’s dividend payout ratio is 3.32%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Loews from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th.

About Loews

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.