Loews Corporation $L Shares Sold by KBC Group NV

KBC Group NV trimmed its holdings in shares of Loews Corporation (NYSE:L) by 23.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,192 shares of the insurance provider’s stock after selling 9,371 shares during the period. KBC Group NV’s holdings in Loews were worth $2,859,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jane Street Group LLC increased its position in Loews by 218.1% during the 1st quarter. Jane Street Group LLC now owns 142,050 shares of the insurance provider’s stock worth $13,056,000 after purchasing an additional 97,391 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Loews by 182.2% during the 2nd quarter. Assetmark Inc. now owns 1,967 shares of the insurance provider’s stock worth $180,000 after purchasing an additional 1,270 shares during the last quarter. Advisory Alpha LLC acquired a new stake in shares of Loews during the 1st quarter worth about $284,000. American Century Companies Inc. grew its holdings in shares of Loews by 7.4% during the first quarter. American Century Companies Inc. now owns 96,249 shares of the insurance provider’s stock worth $8,846,000 after buying an additional 6,660 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Loews by 1.3% in the first quarter. Hsbc Holdings PLC now owns 724,190 shares of the insurance provider’s stock valued at $66,463,000 after buying an additional 9,357 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock has an average rating of “Strong Buy”.

Loews Price Performance

L opened at $104.37 on Friday. Loews Corporation has a 1 year low of $78.98 and a 1 year high of $105.12. The company’s 50 day simple moving average is $99.92 and its 200 day simple moving average is $94.21. The stock has a market capitalization of $21.57 billion, a PE ratio of 16.59 and a beta of 0.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33.

Loews (NYSE:L) last posted its quarterly earnings results on Monday, November 3rd. The insurance provider reported $2.43 earnings per share for the quarter. The company had revenue of $3.94 billion for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Wednesday, November 26th will be issued a $0.0625 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews’s dividend payout ratio (DPR) is presently 3.62%.

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.