Loews Corporation $L Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd cut its holdings in Loews Corporation (NYSE:L) by 12.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,685 shares of the insurance provider’s stock after selling 6,037 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Loews were worth $4,055,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in L. SJS Investment Consulting Inc. raised its position in Loews by 880.8% during the third quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 229 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in shares of Loews during the second quarter worth about $27,000. NewSquare Capital LLC increased its stake in shares of Loews by 404.1% during the second quarter. NewSquare Capital LLC now owns 368 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 295 shares in the last quarter. MTM Investment Management LLC acquired a new position in shares of Loews during the 2nd quarter worth about $41,000. Finally, Hantz Financial Services Inc. lifted its stake in Loews by 14,900.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 450 shares of the insurance provider’s stock valued at $41,000 after buying an additional 447 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Insider Activity at Loews

In other Loews news, Director Paul J. Fribourg sold 1,442 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $108.13, for a total value of $155,923.46. Following the completion of the transaction, the director owned 400 shares of the company’s stock, valued at $43,252. This trade represents a 78.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction 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 sale, the director directly owned 12,909,642 shares in the company, valued at $1,356,416,084.94. This represents a 0.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 125,770 shares of company stock worth $13,325,818 over the last 90 days. 18.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Loews Stock Up 0.2%

NYSE:L opened at $105.74 on Tuesday. Loews Corporation has a 52 week low of $78.98 and a 52 week high of $109.06. The stock’s fifty day moving average is $104.85 and its two-hundred day moving average is $100.43. The stock has a market capitalization of $21.85 billion, a price-to-earnings ratio of 15.32 and a beta of 0.61. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.44.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, November 3rd. The insurance provider reported $2.43 earnings per share (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 Dividend Announcement

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

About Loews

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.