Loews Corporation $L Stock Holdings Cut by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its position in shares of Loews Corporation (NYSE:L) by 46.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 65,985 shares of the insurance provider’s stock after selling 57,000 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Loews were worth $6,624,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Assetmark Inc. boosted its holdings in shares of Loews by 182.2% in the second quarter. Assetmark Inc. now owns 1,967 shares of the insurance provider’s stock worth $180,000 after buying an additional 1,270 shares during the period. Swedbank AB boosted its stake in Loews by 9.7% in the 3rd quarter. Swedbank AB now owns 443,106 shares of the insurance provider’s stock worth $44,483,000 after purchasing an additional 39,313 shares during the period. CPC Advisors LLC purchased a new position in Loews during the 3rd quarter worth approximately $6,568,000. Permanent Capital Management LP purchased a new position in Loews during the 3rd quarter worth approximately $1,551,000. Finally, Nordea Investment Management AB raised its stake in Loews by 2.6% during the 2nd quarter. Nordea Investment Management AB now owns 16,078 shares of the insurance provider’s stock valued at $1,459,000 after purchasing an additional 403 shares during the period. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Trading Down 0.7%

Loews stock opened at $102.42 on Friday. Loews Corporation has a 12 month low of $78.98 and a 12 month high of $109.06. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.44. The stock has a market cap of $21.17 billion, a P/E ratio of 14.84 and a beta of 0.61. The company’s fifty day simple moving average is $105.22 and its 200-day simple moving average is $99.46.

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

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Wednesday, November 26th were issued a $0.0625 dividend. The ex-dividend date was Wednesday, November 26th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews’s dividend payout ratio is currently 3.62%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Loews news, Director Charles M. Diker 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 $107.93, for a total value of $155,635.06. Following the completion of the sale, the director directly owned 21,594 shares in the company, valued at $2,330,640.42. The trade was a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann E. Berman sold 1,444 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $108.10, for a total transaction of $156,096.40. Following the transaction, the director owned 6,686 shares in the company, valued at $722,756.60. This represents a 17.76% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 125,770 shares of company stock valued at $13,325,818. 19.00% of the stock is currently owned by company 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.