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

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Loews Corporation (NYSE:L - Free Report) by 3.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 445,297 shares of the insurance provider's stock after selling 18,135 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of Loews worth $47,531,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Loews by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider's stock valued at $2,045,759,000 after purchasing an additional 108,882 shares in the last quarter. Norges Bank acquired a new position in Loews during the fourth quarter worth about $577,279,000. Geode Capital Management LLC grew its position in Loews by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider's stock worth $524,599,000 after buying an additional 271,234 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Loews by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider's stock valued at $419,581,000 after buying an additional 344,995 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Loews by 0.4% in the third quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider's stock valued at $337,698,000 after buying an additional 12,311 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "buy (a-)" rating on shares of Loews in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Strong Buy".

Insider Buying and Selling at Loews

In related news, Director Dino Robusto acquired 5,000 shares of Loews stock in a transaction dated Friday, May 29th. The shares were acquired at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the transaction, the director directly owned 10,235 shares of the company's stock, valued at $1,072,013.90. The trade was a 95.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 19.00% of the stock is currently owned by company insiders.

Loews Price Performance

Shares of NYSE L opened at $115.09 on Monday. The stock has a market cap of $23.68 billion, a price-to-earnings ratio of 14.62 and a beta of 0.52. Loews Corporation has a 52 week low of $89.32 and a 52 week high of $119.10. The company's 50-day moving average price is $108.84 and its 200 day moving average price is $108.05. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46.

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

Loews Dividend Announcement

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

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.

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