M&T Bank Corp Reduces Stock Holdings in Loews Corporation $L

Key Points

• M&T Bank Corp cut its stake in Loews by 30.7% in Q4, selling 13,616 shares and finishing the period with 30,689 shares valued at about $3.23 million.
• Insiders and institutions were active: Director Andrew H. Tisch sold 50,000 shares (~$5.44M) and insiders offloaded 105,417 shares (~$11.55M) in the last three months, while new/added positions (e.g., Walleye Partners’ ~$7.18M stake) help push institutional ownership to 58.33%.
• Company fundamentals — Loews reported quarterly EPS of $1.94 on $4.73B revenue, has a market cap of $22.89B and a P/E of 13.94, and pays an annualized dividend of $0.25 (yield ~0.2%).

M&T Bank Corp decreased its stake in Loews Corporation (NYSE:L - Free Report) by 30.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,689 shares of the insurance provider's stock after selling 13,616 shares during the quarter. M&T Bank Corp's holdings in Loews were worth $3,232,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Walleye Partners LLC purchased a new position in shares of Loews in the 4th quarter worth approximately $7,178,000. CPC Advisors LLC boosted its holdings in shares of Loews by 8.3% in the 4th quarter. CPC Advisors LLC now owns 70,846 shares of the insurance provider's stock worth $7,461,000 after purchasing an additional 5,424 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of Loews by 10.8% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 291,877 shares of the insurance provider's stock worth $30,833,000 after purchasing an additional 28,404 shares during the period. Optas LLC boosted its holdings in shares of Loews by 4.3% in the 4th quarter. Optas LLC now owns 6,944 shares of the insurance provider's stock worth $731,000 after purchasing an additional 285 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its holdings in shares of Loews by 226.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,594 shares of the insurance provider's stock worth $378,000 after purchasing an additional 2,494 shares during the period. Hedge funds and other institutional investors own 58.33% of the company's stock.

Loews Price Performance

Shares of L stock opened at $111.23 on Tuesday. Loews Corporation has a 52-week low of $84.89 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 firm has a market capitalization of $22.89 billion, a P/E ratio of 13.94 and a beta of 0.59. The stock has a 50 day moving average price of $108.93 and a 200 day moving average price of $105.92.

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

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th were paid a dividend of $0.0625 per share. 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, February 25th. Loews's dividend payout ratio (DPR) is currently 3.13%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "buy (a-)" rating on shares of Loews in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Strong Buy".

Insider Buying and Selling

In related news, Director Andrew H. Tisch sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $108.81, for a total transaction of $5,440,500.00. Following the completion of the sale, the director directly owned 12,480,400 shares of the company's stock, valued at approximately $1,357,992,324. This trade represents a 0.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Marc A. Alpert sold 3,495 shares of the firm's stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $109.87, for a total value of $383,995.65. Following the sale, the vice president directly owned 16,325 shares of the company's stock, valued at $1,793,627.75. This represents a 17.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 105,417 shares of company stock valued at $11,549,723. Insiders own 19.00% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.