Hsbc Holdings PLC Decreases Holdings in Loews Corporation $L

Key Points

• HSBC Holdings PLC reduced its stake in Loews by 8.6% in the first quarter, selling 55,038 shares and ending with 585,560 shares valued at about $62.5 million.
• Analyst sentiment remains constructive despite a recent downgrade from Weiss Ratings, with MarketBeat showing a consensus rating of “Buy” for Loews.
• Loews reported solid quarterly results and continued shareholder returns, posting $1.63 EPS on $4.55 billion in revenue and paying a quarterly dividend of $0.0625 per share.

Hsbc Holdings PLC decreased its position in Loews Corporation (NYSE:L - Free Report) by 8.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 585,560 shares of the insurance provider's stock after selling 55,038 shares during the quarter. Hsbc Holdings PLC owned 0.28% of Loews worth $62,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. DV Equities LLC bought a new stake in shares of Loews in the 4th quarter worth approximately $25,000. Harbor Capital Advisors Inc. bought a new position in shares of Loews during the 4th quarter valued at $27,000. Harbor Investment Advisory LLC bought a new position in shares of Loews during the 4th quarter valued at $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in Loews in the 3rd quarter worth $30,000. Finally, Private Trust Co. NA raised its position in Loews by 896.7% in the 4th 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 period. Hedge funds and other institutional investors own 58.33% of the company's stock.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Loews from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Loews currently has a consensus rating of "Buy".

Loews Price Performance

Shares of Loews stock opened at $114.47 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.36 and a quick ratio of 0.36. The business's 50 day simple moving average is $109.60 and its two-hundred day simple moving average is $108.31. The stock has a market capitalization of $23.55 billion, a P/E ratio of 14.55 and a beta of 0.52. Loews Corporation has a one year low of $89.32 and a one year high of $119.10.

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

Loews Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Wednesday, May 27th. Loews's dividend payout ratio is currently 3.18%.

Insiders Place Their Bets

In other news, Director Dino Robusto purchased 5,000 shares of the company's stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $104.74 per share, with a total value of $523,700.00. Following the transaction, the director directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 19.00% of the stock is owned by insiders.

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.

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