ProShare Advisors LLC Sells 13,107 Shares of Loews Corporation $L

ProShare Advisors LLC decreased its stake in shares of Loews Corporation (NYSE:L) by 26.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,229 shares of the insurance provider’s stock after selling 13,107 shares during the period. ProShare Advisors LLC’s holdings in Loews were worth $3,815,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. North Dakota State Investment Board bought a new position in Loews during the fourth quarter valued at approximately $617,000. Canada Post Corp Registered Pension Plan lifted its position in Loews by 27.4% during the fourth quarter. Canada Post Corp Registered Pension Plan now owns 4,186 shares of the insurance provider’s stock valued at $441,000 after purchasing an additional 900 shares during the period. DNB Asset Management AS increased its holdings in Loews by 10.0% during the fourth quarter. DNB Asset Management AS now owns 34,929 shares of the insurance provider’s stock valued at $3,678,000 after buying an additional 3,180 shares during the last quarter. WHI TRUST Co LLC purchased a new stake in Loews during the fourth quarter valued at approximately $68,000. Finally, Donoghue Forlines LLC purchased a new stake in Loews during the fourth quarter valued at approximately $2,352,000. Institutional investors own 58.33% of the company’s stock.

Loews Stock Down 0.2%

Shares of L stock opened at $108.97 on Friday. Loews Corporation has a 12 month low of $86.77 and a 12 month high of $114.90. The stock has a market cap of $22.42 billion, a P/E ratio of 13.85 and a beta of 0.56. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The company has a 50 day simple moving average of $108.07 and a two-hundred day simple moving average of $106.77.

Loews (NYSE:L) last announced its earnings results on Monday, May 4th. The insurance provider reported $1.63 EPS for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%. The business had revenue of $4.56 billion during the quarter.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th will be 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 of this dividend is Wednesday, May 27th. Loews’s dividend payout ratio is currently 3.18%.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Loews in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company has a consensus rating of “Strong Buy”.

Insider Buying and Selling

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were 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 represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.