Squarepoint Ops LLC Sells 28,671 Shares of Loews Co. (NYSE:L)

Squarepoint Ops LLC lessened its holdings in shares of Loews Co. (NYSE:L - Free Report) by 77.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,271 shares of the insurance provider's stock after selling 28,671 shares during the period. Squarepoint Ops LLC's holdings in Loews were worth $700,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new stake in shares of Loews during the 4th quarter valued at about $623,493,000. Geode Capital Management LLC lifted its holdings in Loews by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider's stock worth $378,087,000 after buying an additional 210,594 shares during the period. Invesco Ltd. lifted its holdings in Loews by 0.8% in the fourth quarter. Invesco Ltd. now owns 4,462,387 shares of the insurance provider's stock worth $377,920,000 after buying an additional 33,428 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Loews by 0.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider's stock valued at $268,640,000 after acquiring an additional 8,750 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Loews by 2.6% during the 4th quarter. Northern Trust Corp now owns 2,097,608 shares of the insurance provider's stock worth $177,646,000 after acquiring an additional 53,625 shares during the period. Institutional investors own 58.33% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Loews from a "hold" rating to a "buy" rating in a research note on Tuesday, May 6th.

Insider Activity at Loews

In related news, Director Jonathan M. Tisch sold 47,636 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $84.88, for a total value of $4,043,343.68. Following the sale, the director now owns 6,705,529 shares in the company, valued at approximately $569,165,301.52. This trade represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Richard Waldo Scott sold 9,019 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $87.92, for a total value of $792,950.48. Following the transaction, the senior vice president now directly owns 33,901 shares in the company, valued at $2,980,575.92. The trade was a 21.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 106,655 shares of company stock valued at $9,069,294 over the last 90 days. Corporate insiders own 19.00% of the company's stock.

Loews Stock Down 1.5%

Shares of NYSE:L traded down $1.37 during midday trading on Wednesday, reaching $88.25. The company's stock had a trading volume of 791,301 shares, compared to its average volume of 725,728. Loews Co. has a 12-month low of $73.15 and a 12-month high of $92.42. The firm has a 50 day moving average of $87.18 and a 200-day moving average of $85.85. The firm has a market capitalization of $18.51 billion, a P/E ratio of 13.79 and a beta of 0.70. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The insurance provider reported $1.74 earnings per share (EPS) for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%. The company had revenue of $4.49 billion for the quarter.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date is Wednesday, May 28th. Loews's payout ratio is 4.11%.

About Loews

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.