Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in Loews Corporation $L

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank boosted its stake by 294.5% in Loews in Q4, buying 110,901 shares to own 148,560 shares (about 0.07% of the company) valued at roughly $15.65 million.
• Significant insider selling occurred over the past 90 days—insiders sold 105,417 shares worth about $11.55 million, including Director Andrew H. Tisch's 50,000-share sale for $5.44 million, though insiders still hold 19% of the company.
• Loews has a market cap of $22.77 billion, reported Q EPS of $1.94 on revenue of $4.73 billion, pays a $0.25 annual dividend (0.2% yield), and carries a consensus rating of "Strong Buy".

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Loews Corporation (NYSE:L - Free Report) by 294.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,560 shares of the insurance provider's stock after buying an additional 110,901 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Loews worth $15,645,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Benson Investment Management Company Inc. grew its stake in Loews by 1.2% in the 4th quarter. Benson Investment Management Company Inc. now owns 61,480 shares of the insurance provider's stock valued at $6,474,000 after buying an additional 745 shares in the last quarter. AE Wealth Management LLC purchased a new position in Loews in the 4th quarter valued at approximately $5,209,000. Private Trust Co. NA boosted its holdings in Loews by 896.7% in the 4th quarter. Private Trust Co. NA now owns 299 shares of the insurance provider's stock valued at $31,000 after purchasing an additional 269 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Loews by 21.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,555 shares of the insurance provider's stock valued at $3,007,000 after purchasing an additional 4,962 shares during the period. Finally, CWM LLC increased its holdings in shares of Loews by 8.3% in the fourth quarter. CWM LLC now owns 9,358 shares of the insurance provider's stock worth $985,000 after purchasing an additional 718 shares during the period. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Loews Price Performance

NYSE:L opened at $110.64 on Thursday. The firm has a market capitalization of $22.77 billion, a price-to-earnings ratio of 13.86 and a beta of 0.59. Loews Corporation has a 52-week low of $84.68 and a 52-week high of $114.90. The stock has a fifty day moving average of $108.80 and a 200 day moving average of $105.71. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 0.36.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $4.73 billion during the quarter.

Loews Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "buy (a-)" rating on shares of Loews in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, Loews has a consensus rating of "Strong Buy".

Insider Buying and Selling

In related news, Director Ann E. Berman sold 1,922 shares of the company's stock in a transaction 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 approximately $550,579.68. The trade was a 27.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew H. Tisch sold 50,000 shares of the company's stock in a transaction 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 transaction, the director owned 12,480,400 shares of the company's stock, valued at $1,357,992,324. This trade represents a 0.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 105,417 shares of company stock worth $11,549,723. Corporate insiders own 19.00% of the company's stock.

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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