Xponance Inc. Trims Stake in Loews Co. (NYSE:L)

Xponance Inc. lowered its holdings in Loews Co. (NYSE:L) by 10.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 24,538 shares of the insurance provider’s stock after selling 2,757 shares during the period. Xponance Inc.’s holdings in Loews were worth $1,708,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew its stake in shares of Loews by 316.1% in the third quarter. Assenagon Asset Management S.A. now owns 580,107 shares of the insurance provider’s stock valued at $36,727,000 after buying an additional 440,693 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Loews by 118.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 286,708 shares of the insurance provider’s stock worth $18,151,000 after purchasing an additional 155,713 shares in the last quarter. Barclays PLC grew its stake in Loews by 34.9% during the 3rd quarter. Barclays PLC now owns 577,591 shares of the insurance provider’s stock worth $36,568,000 after purchasing an additional 149,500 shares in the last quarter. Bank of Nova Scotia grew its stake in Loews by 115.4% during the 3rd quarter. Bank of Nova Scotia now owns 270,421 shares of the insurance provider’s stock worth $17,120,000 after purchasing an additional 144,902 shares in the last quarter. Finally, Jump Financial LLC grew its stake in Loews by 3,984.2% during the 3rd quarter. Jump Financial LLC now owns 146,910 shares of the insurance provider’s stock worth $9,301,000 after purchasing an additional 143,313 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Trading Up 0.4 %

L opened at $76.75 on Wednesday. Loews Co. has a 12 month low of $55.31 and a 12 month high of $78.55. The stock has a market capitalization of $17.05 billion, a price-to-earnings ratio of 12.18 and a beta of 0.83. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.32 and a quick ratio of 0.32. The business has a fifty day moving average price of $75.63 and a 200 day moving average price of $71.11.

Loews (NYSE:L) last released its earnings results on Monday, February 5th. The insurance provider reported $1.99 EPS for the quarter. The firm had revenue of $4.26 billion during the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Wednesday, February 21st were given a dividend of $0.0625 per share. The ex-dividend date was Tuesday, February 20th. This represents a $0.25 annualized dividend and a dividend yield of 0.33%. Loews’s dividend payout ratio is currently 3.97%.

Insider Activity

In other news, Director Paul J. Fribourg sold 951 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $75.02, for a total value of $71,344.02. Following the completion of the sale, the director now directly owns 21,200 shares of the company’s stock, valued at approximately $1,590,424. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Loews news, insider Jonathan M. Tisch sold 4,287 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $71.91, for a total transaction of $308,278.17. Following the completion of the sale, the insider now directly owns 106,870 shares of the company’s stock, valued at approximately $7,685,021.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul J. Fribourg sold 951 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $75.02, for a total value of $71,344.02. Following the sale, the director now directly owns 21,200 shares of the company’s stock, valued at $1,590,424. The disclosure for this sale can be found here. In the last three months, insiders sold 137,563 shares of company stock valued at $10,052,551. Insiders own 18.70% of the company’s stock.

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.