AustralianSuper Pty Ltd Sells 46,057 Shares of Loews Corporation $L

AustralianSuper Pty Ltd trimmed its holdings in Loews Corporation (NYSE:L) by 27.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,780 shares of the insurance provider’s stock after selling 46,057 shares during the quarter. AustralianSuper Pty Ltd owned about 0.06% of Loews worth $12,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity

In related news, Director Ann E. Berman sold 1,444 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $108.10, for a total transaction of $156,096.40. Following the transaction, the director owned 6,686 shares in the company, valued at $722,756.60. This represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles M. Diker sold 1,442 shares of Loews stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $107.93, for a total transaction of $155,635.06. Following the completion of the sale, the director directly owned 21,594 shares of the company’s stock, valued at approximately $2,330,640.42. This trade represents a 6.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 125,770 shares of company stock valued at $13,325,818 over the last three months. Corporate insiders own 19.00% of the company’s stock.

Loews Stock Up 1.8%

Loews stock opened at $104.64 on Friday. Loews Corporation has a 12 month low of $78.98 and a 12 month high of $109.06. The stock has a fifty day simple moving average of $104.90 and a two-hundred day simple moving average of $100.11. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.44. The firm has a market cap of $21.62 billion, a price-to-earnings ratio of 15.17 and a beta of 0.61.

Loews (NYSE:L) last released its quarterly earnings data on Monday, November 3rd. The insurance provider reported $2.43 EPS for the quarter. Loews had a return on equity of 7.89% and a net margin of 7.95%.The company had revenue of $4.67 billion for the quarter.

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Wednesday, November 26th were paid a $0.0625 dividend. The ex-dividend date was Wednesday, November 26th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. Loews’s payout ratio is currently 3.62%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Strong Buy”.

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.