Dimensional Fund Advisors LP Sells 209,930 Shares of Loews Corporation $L

Key Points

• Dimensional Fund Advisors reduced its Loews stake by 8.4% in Q3, selling 209,930 shares and ending the period with 2,276,386 shares (about 1.10% of the company) valued at roughly $228.5 million.
• Insider selling has been notable, with 105,417 shares sold in the last 90 days worth $11.36 million, including Director Andrew H. Tisch's sale of 50,000 shares for about $5.25 million, although insiders still own 19% of Loews.
• Company snapshot: Loews reported quarterly EPS of $1.94 on $4.73 billion in revenue, has a market cap of ~$22.6 billion and a P/E of 13.77, and declared a quarterly dividend of $0.0625 per share (annualized $0.25, ~0.2% yield) payable March 10.

Dimensional Fund Advisors LP reduced its position in shares of Loews Corporation (NYSE:L - Free Report) by 8.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,276,386 shares of the insurance provider's stock after selling 209,930 shares during the period. Dimensional Fund Advisors LP owned about 1.10% of Loews worth $228,512,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of L. SJS Investment Consulting Inc. grew its position in Loews by 880.8% in the third quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 229 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of Loews during the 2nd quarter worth about $27,000. Westside Investment Management Inc. boosted its stake in shares of Loews by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 370 shares of the insurance provider's stock worth $37,000 after buying an additional 185 shares during the last quarter. MTM Investment Management LLC bought a new position in shares of Loews in the 2nd quarter valued at about $41,000. Finally, CYBER HORNET ETFs LLC bought a new position in shares of Loews in the 2nd quarter valued at about $44,000. 58.33% of the stock is currently owned by institutional investors.

Insider Activity at Loews

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $105.07, for a total value of $5,253,500.00. Following the transaction, the director directly owned 12,909,642 shares of the company's stock, valued at $1,356,416,084.94. This represents a 0.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann E. Berman sold 1,922 shares of the company's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $110.16, for a total value of $211,727.52. Following the completion of the transaction, the director directly owned 4,998 shares in the company, valued at $550,579.68. The trade was a 27.77% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 105,417 shares of company stock worth $11,362,723. Insiders own 19.00% of the company's stock.

Loews Trading Down 0.1%

Loews stock opened at $109.85 on Friday. Loews Corporation has a 52 week low of $78.98 and a 52 week high of $114.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market capitalization of $22.63 billion, a P/E ratio of 13.77 and a beta of 0.60. The stock has a 50-day simple moving average of $106.83 and a 200 day simple moving average of $103.24.

Loews (NYSE:L - Get Free Report) last released its quarterly earnings data on Monday, February 9th. The insurance provider reported $1.94 earnings per share (EPS) for the quarter. The firm had revenue of $4.73 billion for the quarter. Loews had a return on equity of 8.86% and a net margin of 9.03%.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th will be issued a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews's payout ratio is presently 3.13%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "buy (a-)" rating on shares of Loews in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company 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.

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