SG Americas Securities LLC Has $14.73 Million Position in Loews Corporation $L

SG Americas Securities LLC cut its stake in Loews Corporation (NYSE:L) by 16.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 138,009 shares of the insurance provider’s stock after selling 27,798 shares during the quarter. SG Americas Securities LLC owned 0.07% of Loews worth $14,731,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of L. DV Equities LLC acquired a new stake in Loews during the 4th quarter worth $25,000. Harbor Capital Advisors Inc. acquired a new position in Loews in the fourth quarter valued at about $27,000. Harbor Investment Advisory LLC acquired a new position in Loews in the fourth quarter valued at about $30,000. Private Trust Co. NA raised its position in shares of Loews by 896.7% during the fourth quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 269 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in shares of Loews during the 3rd quarter valued at about $30,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Strong Buy”.

Insider Transactions at Loews

In other news, Director Dino Robusto bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average price of $104.74 per share, with a total value of $523,700.00. Following the transaction, the director owned 10,235 shares in the company, valued at $1,072,013.90. This represents a 95.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 19.00% of the company’s stock.

Loews Trading Down 0.9%

L opened at $110.97 on Friday. The stock has a market capitalization of $22.83 billion, a P/E ratio of 14.10 and a beta of 0.53. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. Loews Corporation has a 12 month low of $89.20 and a 12 month high of $114.90. The firm’s fifty day simple moving average is $107.98 and its 200 day simple moving average is $107.24.

Loews (NYSE:L) last released its earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter. The firm had revenue of $4.55 billion during the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were issued a dividend of $0.0625 per share. The ex-dividend date was Wednesday, May 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. Loews’s dividend payout ratio (DPR) is presently 3.18%.

Loews 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.