Geode Capital Management LLC Grows Stock Holdings in Loews Corporation $L

Geode Capital Management LLC grew its holdings in Loews Corporation (NYSE:L) by 5.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,999,186 shares of the insurance provider’s stock after purchasing an additional 271,234 shares during the quarter. Geode Capital Management LLC’s holdings in Loews were worth $524,599,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new stake in shares of Loews during the 4th quarter worth approximately $27,000. Harbor Investment Advisory LLC acquired a new stake in shares of Loews during the 4th quarter worth approximately $30,000. Private Trust Co. NA increased its holdings in shares of Loews by 896.7% during the 4th quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock worth $31,000 after buying an additional 269 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Loews during the 3rd quarter worth approximately $30,000. Finally, Westfuller Advisors LLC acquired a new stake in shares of Loews during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insiders Place Their Bets

In related news, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $108.81, for a total value of $5,440,500.00. Following the completion of the sale, the director owned 12,480,400 shares in the company, valued at approximately $1,357,992,324. This trade represents a 0.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 19.00% of the company’s stock.

Loews Stock Up 0.1%

Shares of NYSE L opened at $103.61 on Monday. The company has a 50 day simple moving average of $107.95 and a 200-day simple moving average of $106.99. The company has a market capitalization of $21.32 billion, a P/E ratio of 13.17 and a beta of 0.53. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.36 and a quick ratio of 0.36. Loews Corporation has a 1 year low of $86.77 and a 1 year high of $114.90.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter. The business had revenue of $4.56 billion during the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date is Wednesday, May 27th. Loews’s dividend payout ratio (DPR) is 3.18%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Strong Buy”.

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.