Bessemer Group Inc. Trims Holdings in Loews Corporation $L

Bessemer Group Inc. cut its position in shares of Loews Corporation (NYSE:L) by 74.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 10,129 shares of the insurance provider’s stock after selling 29,653 shares during the quarter. Bessemer Group Inc.’s holdings in Loews were worth $1,081,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of L. DV Equities LLC purchased a new stake in Loews in the 4th quarter worth approximately $25,000. Harbor Capital Advisors Inc. purchased a new position in shares of Loews during the 4th quarter worth $27,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Loews during the third quarter worth $30,000. Private Trust Co. NA boosted its holdings 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 last quarter. Finally, SHP Wealth Management purchased a new stake in shares of Loews in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Stock Up 0.8%

Shares of L opened at $115.58 on Friday. Loews Corporation has a fifty-two week low of $89.32 and a fifty-two week high of $119.10. The company’s fifty day moving average is $110.45 and its two-hundred day moving average is $108.58. The firm has a market cap of $23.78 billion, a PE ratio of 14.69 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 (NYSE:L) last issued 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 business had revenue of $4.55 billion for the quarter.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders 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 payout ratio is presently 3.18%.

Insider Transactions at Loews

In other Loews news, Director Dino Robusto purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the acquisition, the director owned 10,235 shares of the company’s stock, valued at approximately $1,072,013.90. This represents a 95.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 19.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Loews from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Loews currently has an average rating of “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.