Loews Corporation $L Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd reduced its stake in shares of Loews Corporation (NYSE:L) by 14.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,134 shares of the insurance provider’s stock after selling 4,733 shares during the quarter. IFM Investors Pty Ltd’s holdings in Loews were worth $2,896,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in Loews in the 4th quarter valued at about $577,279,000. Goldman Sachs Group Inc. raised its position in shares of Loews by 32.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,237,922 shares of the insurance provider’s stock worth $340,986,000 after buying an additional 786,381 shares in the last quarter. Caisse de depot et placement du Quebec raised its position in shares of Loews by 819.0% during the 4th quarter. Caisse de depot et placement du Quebec now owns 448,032 shares of the insurance provider’s stock worth $47,182,000 after buying an additional 399,281 shares in the last quarter. Danske Bank A S acquired a new stake in shares of Loews in the 3rd quarter worth approximately $35,724,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Loews by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider’s stock worth $419,581,000 after acquiring an additional 344,995 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Activity at Loews

In other news, Director Dino Robusto bought 5,000 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was bought at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the acquisition, the director directly owned 10,235 shares in the company, valued at $1,072,013.90. This represents a 95.51% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 19.00% of the stock is currently owned by insiders.

Loews Price Performance

Shares of NYSE:L opened at $116.46 on Friday. The company has a market capitalization of $23.96 billion, a PE ratio of 14.80 and a beta of 0.52. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a fifty day moving average of $108.43 and a 200-day moving average of $107.70. Loews Corporation has a one year low of $89.32 and a one year high of $116.58.

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

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were given a $0.0625 dividend. 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 3.18%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a report on Wednesday, June 24th. 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”.

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.