Loews Corporation $L Shares Sold by Legal & General Group Plc

Legal & General Group Plc decreased its position in Loews Corporation (NYSE:L) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,277,706 shares of the insurance provider’s stock after selling 63,161 shares during the quarter. Legal & General Group Plc owned 0.62% of Loews worth $134,555,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of L. Cibc World Market Inc. grew its position in shares of Loews by 448.6% during the third quarter. Cibc World Market Inc. now owns 24,540 shares of the insurance provider’s stock worth $2,464,000 after buying an additional 20,067 shares in the last quarter. Caprock Group LLC acquired a new stake in shares of Loews during the third quarter worth approximately $2,748,000. Groupama Asset Managment acquired a new stake in shares of Loews during the third quarter worth approximately $1,723,000. National Pension Service grew its position in shares of Loews by 30.5% during the third quarter. National Pension Service now owns 46,960 shares of the insurance provider’s stock worth $4,714,000 after buying an additional 10,986 shares in the last quarter. Finally, Truist Financial Corp grew its position in shares of Loews by 388.3% during the third quarter. Truist Financial Corp now owns 14,331 shares of the insurance provider’s stock worth $1,439,000 after buying an additional 11,396 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Analysts Set New Price Targets

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

Loews Stock Performance

Loews stock opened at $104.86 on Friday. The company has a market cap of $21.58 billion, a PE ratio of 13.32 and a beta of 0.56. The company has a fifty day moving average price of $108.00 and a two-hundred day moving average price of $106.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.36 and a quick ratio of 0.36. Loews Corporation has a 12 month low of $86.77 and a 12 month high of $114.90.

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

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th will be issued a $0.0625 dividend. 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 payout ratio is currently 3.18%.

Insider Buying and Selling

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $108.81, for a total value 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. The trade was a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 19.00% of the stock is currently owned by corporate insiders.

Loews 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.