Aberdeen Group plc Has $4.76 Million Stock Holdings in Loews Corporation $L

Aberdeen Group plc decreased its holdings in shares of Loews Corporation (NYSE:L) by 54.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,802 shares of the insurance provider’s stock after selling 58,058 shares during the quarter. Aberdeen Group plc’s holdings in Loews were worth $4,764,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Versant Capital Management Inc boosted its position in Loews by 6.9% during the 3rd quarter. Versant Capital Management Inc now owns 1,606 shares of the insurance provider’s stock worth $161,000 after acquiring an additional 104 shares during the period. Moody Lynn & Lieberson LLC lifted its position in shares of Loews by 2.9% in the third quarter. Moody Lynn & Lieberson LLC now owns 3,678 shares of the insurance provider’s stock worth $369,000 after purchasing an additional 105 shares in the last quarter. Trustmark Bank Trust Department lifted its position in shares of Loews by 0.7% in the second quarter. Trustmark Bank Trust Department now owns 16,263 shares of the insurance provider’s stock worth $1,491,000 after purchasing an additional 115 shares in the last quarter. Wedmont Private Capital boosted its holdings in shares of Loews by 3.8% during the third quarter. Wedmont Private Capital now owns 3,291 shares of the insurance provider’s stock worth $339,000 after purchasing an additional 120 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in Loews by 0.5% during the third quarter. Exchange Traded Concepts LLC now owns 25,996 shares of the insurance provider’s stock valued at $2,610,000 after purchasing an additional 120 shares in the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated 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, According to MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

Loews Trading Up 1.3%

Shares of NYSE L opened at $109.76 on Friday. The business has a 50 day simple moving average of $106.08 and a 200 day simple moving average of $102.09. Loews Corporation has a 52 week low of $78.98 and a 52 week high of $114.90. The stock has a market cap of $22.62 billion, a price-to-earnings ratio of 13.75 and a beta of 0.61. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 0.36.

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

Loews Announces Dividend

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

Insider Transactions at Loews

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of the business’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $110.27, for a total value of $5,513,500.00. Following the completion of the sale, the director owned 12,859,642 shares of the company’s stock, valued at $1,418,032,723.34. The trade was a 0.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul J. Fribourg sold 1,442 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $108.13, for a total value of $155,923.46. Following the sale, the director owned 400 shares of the company’s stock, valued at approximately $43,252. This trade represents a 78.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 181,187 shares of company stock valued at $19,435,041 in the last three months. 19.00% of the stock is currently owned by company insiders.

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.