SEB Asset Management AB Takes $7.93 Million Position in Loews Corporation $L

SEB Asset Management AB purchased a new stake in shares of Loews Corporation (NYSE:L) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 74,276 shares of the insurance provider’s stock, valued at approximately $7,928,000.

Other large investors have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Loews by 12.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 369,994 shares of the insurance provider’s stock worth $38,724,000 after buying an additional 39,968 shares in the last quarter. UBS Group AG increased its position in shares of Loews by 4.8% during the fourth quarter. UBS Group AG now owns 811,194 shares of the insurance provider’s stock valued at $85,427,000 after acquiring an additional 37,327 shares in the last quarter. Accurate Wealth Management LLC purchased a new position in Loews in the 4th quarter worth approximately $2,095,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Loews by 294.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 148,560 shares of the insurance provider’s stock worth $15,645,000 after acquiring an additional 110,901 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in Loews by 5,379.4% in the 4th quarter. SG Americas Securities LLC now owns 165,807 shares of the insurance provider’s stock worth $17,461,000 after acquiring an additional 162,781 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

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

Loews Price Performance

Shares of NYSE:L opened at $114.53 on Wednesday. Loews Corporation has a fifty-two week low of $89.32 and a fifty-two week high of $119.10. The business has a 50-day simple moving average of $110.03 and a two-hundred day simple moving average of $108.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market cap of $23.57 billion, a price-to-earnings ratio of 14.55 and a beta of 0.52.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%. The firm had revenue of $4.55 billion for the quarter.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were given a dividend of $0.0625 per share. The ex-dividend date was Wednesday, May 27th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews’s dividend payout ratio is 3.18%.

Insider Transactions at Loews

In related news, Director Dino Robusto bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the acquisition, the director owned 10,235 shares of the company’s stock, valued at $1,072,013.90. This trade represents a 95.51% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 19.00% of the company’s stock.

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.