Hsbc Holdings PLC Sells 30,052 Shares of Loews Corporation $L

Hsbc Holdings PLC reduced its holdings in shares of Loews Corporation (NYSE:L) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 640,598 shares of the insurance provider’s stock after selling 30,052 shares during the period. Hsbc Holdings PLC’s holdings in Loews were worth $67,558,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Groupama Asset Managment bought a new stake in Loews during the 3rd quarter worth approximately $1,723,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Loews by 12.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 369,994 shares of the insurance provider’s stock valued at $38,724,000 after purchasing an additional 39,968 shares during the last quarter. UBS Group AG raised its position in Loews by 4.8% in the 4th quarter. UBS Group AG now owns 811,194 shares of the insurance provider’s stock valued at $85,427,000 after purchasing an additional 37,327 shares during the last quarter. Accurate Wealth Management LLC acquired a new position in Loews in the fourth quarter worth $2,095,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Loews by 294.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 148,560 shares of the insurance provider’s stock worth $15,645,000 after purchasing an additional 110,901 shares in the last quarter. Institutional investors own 58.33% of the company’s stock.

Loews Stock Down 0.1%

Shares of Loews stock opened at $116.46 on Monday. The business has a fifty day simple moving average of $108.43 and a 200 day simple moving average of $107.71. The stock has a market cap of $23.96 billion, a PE ratio of 14.80 and a beta of 0.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46. Loews Corporation has a 12 month low of $89.32 and a 12 month high of $116.58.

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

Loews Dividend Announcement

The company 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. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Wednesday, May 27th. Loews’s dividend payout ratio (DPR) is currently 3.18%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Loews currently has an average rating of “Strong Buy”.

Insider Buying and Selling at Loews

In other news, Director Dino Robusto acquired 5,000 shares of Loews 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 purchase, the director directly owned 10,235 shares of the company’s stock, valued at $1,072,013.90. The trade was a 95.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 19.00% of the stock is owned by corporate 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.