13,181 Loews Corporation $L Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its Loews stake by 3.0%, selling 13,181 shares in the third quarter. It held 420,045 shares, valued at about $43.9 million, at quarter-end.
• Institutional investors own 58.33% of Loews shares, with recent activity mixed: some funds added to positions, while others initiated new holdings.
• Loews reported quarterly EPS of $1.50 on $4.76 billion in revenue. Weiss Ratings downgraded its rating from “buy (A-)” to “buy (B+),” while the analyst consensus remains “Buy.”

Sumitomo Mitsui Trust Group Inc. trimmed its position in Loews Corporation (NYSE:L - Free Report) by 3.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 420,045 shares of the insurance provider's stock after selling 13,181 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.21% of Loews worth $43,865,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Loews in the third quarter worth $4,351,000. ProShare Advisors LLC grew its holdings in shares of Loews by 6.5% during the third quarter. ProShare Advisors LLC now owns 39,859 shares of the insurance provider's stock worth $4,162,000 after buying an additional 2,430 shares during the last quarter. Vise Technologies Inc. increased its holdings in shares of Loews by 27.2% in the 3rd quarter. Vise Technologies Inc. now owns 12,451 shares of the insurance provider's stock valued at $1,300,000 after purchasing an additional 2,661 shares in the last quarter. MGO One Seven LLC increased its stake in shares of Loews by 11.2% during the 3rd quarter. MGO One Seven LLC now owns 2,388 shares of the insurance provider's stock worth $249,000 after purchasing an additional 241 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of Loews in the third quarter valued at approximately $68,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Loews Trading Up 1.5%

Loews stock opened at $111.59 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.44. The stock has a market cap of $22.57 billion, a P/E ratio of 15.21 and a beta of 0.49. Loews Corporation has a 12 month low of $100.59 and a 12 month high of $121.01. The company's fifty day simple moving average is $108.63 and its 200-day simple moving average is $109.45.

Loews (NYSE:L - Get Free Report) last released its quarterly earnings results on Monday, November 2nd. The insurance provider reported $1.50 earnings per share for the quarter. Loews had a net margin of 7.93% and a return on equity of 7.60%. The business had revenue of $4.76 billion for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Loews from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy".

Loews Profile

Loews Corporation NYSE: L is a diversified holding company with operating businesses in insurance, energy infrastructure, hospitality and packaging. The company manages its portfolio through a combination of wholly owned subsidiaries and a significant ownership interest in CNA Financial Corporation, a commercial property and casualty insurance provider.

Loews' wholly owned businesses include Boardwalk Pipelines, which owns and operates natural gas and natural gas liquids pipeline and storage assets; Loews Hotels & Co, which operates upscale hotels and resorts under brands including Loews Hotels and Universal's hotels; and Altium Packaging, a manufacturer of rigid plastic containers and packaging products.

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