Lombard Odier Asset Management Switzerland SA Sells 8,400 Shares of Loews Corporation $L

Lombard Odier Asset Management Switzerland SA lowered its stake in shares of Loews Corporation (NYSE:L) by 25.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 24,372 shares of the insurance provider’s stock after selling 8,400 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in Loews were worth $2,601,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in L. DV Equities LLC purchased a new position in shares of Loews in the 4th quarter worth approximately $25,000. Harbor Capital Advisors Inc. purchased a new position in Loews in the fourth quarter valued at approximately $27,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in Loews during the third quarter valued at $30,000. Private Trust Co. NA increased its position in Loews by 896.7% in the fourth quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock worth $31,000 after buying an additional 269 shares during the last quarter. Finally, SHP Wealth Management purchased a new stake in Loews in the fourth quarter worth $35,000. Institutional investors own 58.33% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Loews from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Loews currently has an average rating of “Buy”.

Insider Activity

In other Loews news, Director Dino Robusto acquired 5,000 shares of the company’s stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the acquisition, the director owned 10,235 shares in the company, valued at $1,072,013.90. This represents a 95.51% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 19.00% of the stock is owned by insiders.

Loews Price Performance

L stock opened at $117.88 on Monday. The firm has a market capitalization of $24.26 billion, a P/E ratio of 14.98 and a beta of 0.52. Loews Corporation has a 12 month low of $89.32 and a 12 month high of $119.10. The firm has a 50 day moving average of $110.69 and a 200-day moving average of $108.66. 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) last posted its quarterly earnings data 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 return on equity of 8.51% and a net margin of 8.83%.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th 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, May 27th. Loews’s dividend payout ratio is 3.18%.

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.