Robeco Institutional Asset Management B.V. Trims Stake in Loews Corporation $L

by · The Cerbat Gem

Robeco Institutional Asset Management B.V. decreased its stake in shares of Loews Corporation (NYSE:L – Free Report) by 11.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 369,139 shares of the insurance provider’s stock after selling 47,959 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Loews were worth $37,058,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in L. Park Place Capital Corp boosted its stake in shares of Loews by 2.6% during the third quarter. Park Place Capital Corp now owns 9,511 shares of the insurance provider’s stock valued at $955,000 after acquiring an additional 244 shares during the last quarter. Letson Investment Management Inc. purchased a new position in Loews in the 3rd quarter valued at about $10,317,000. Asset Management One Co. Ltd. boosted its stake in shares of Loews by 0.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 81,776 shares of the insurance provider’s stock worth $8,209,000 after purchasing an additional 295 shares during the last quarter. PDS Planning Inc purchased a new stake in shares of Loews during the third quarter worth about $202,000. Finally, SJS Investment Consulting Inc. raised its position in shares of Loews by 880.8% in the third quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock valued at $26,000 after buying an additional 229 shares during the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company has an average rating of “Strong Buy”.

Check Out Our Latest Report on Loews

Insider Transactions at Loews

In other news, Director Charles M. Diker sold 1,442 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $107.93, for a total value of $155,635.06. Following the transaction, the director owned 21,594 shares of the company’s stock, valued at approximately $2,330,640.42. This trade represents a 6.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction on Monday, December 15th. The shares were sold at an average price of $105.07, for a total transaction of $5,253,500.00. Following the transaction, the director owned 12,909,642 shares in the company, valued at $1,356,416,084.94. The trade was a 0.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 125,770 shares of company stock valued at $13,325,818 in the last three months. 19.00% of the stock is owned by company insiders.

Loews Stock Performance

Shares of L stock opened at $105.46 on Thursday. The firm has a market capitalization of $21.79 billion, a price-to-earnings ratio of 15.28 and a beta of 0.61. The company has a 50 day moving average price of $104.78 and a 200 day moving average price of $98.82. Loews Corporation has a one year low of $78.98 and a one year high of $109.06. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.35 and a current ratio of 0.35.

Loews (NYSE:L – Get Free Report) last released its quarterly earnings data on Monday, November 3rd. The insurance provider reported $2.43 EPS for the quarter. Loews had a return on equity of 7.89% and a net margin of 7.95%.The business had revenue of $4.67 billion during the quarter.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Wednesday, November 26th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, November 26th. Loews’s dividend payout ratio is 3.62%.

About Loews

(Free Report)

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.

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