Bessemer Group Inc. Decreases Position in Loews Corporation $L

Bessemer Group Inc. cut its holdings in Loews Corporation (NYSE:L) by 48.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,931 shares of the insurance provider’s stock after selling 8,400 shares during the period. Bessemer Group Inc.’s holdings in Loews were worth $818,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northern Trust Corp increased its holdings in shares of Loews by 7.2% in the first quarter. Northern Trust Corp now owns 2,249,036 shares of the insurance provider’s stock worth $206,709,000 after buying an additional 151,428 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Loews by 5.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,496,606 shares of the insurance provider’s stock worth $137,553,000 after purchasing an additional 73,197 shares during the period. Hsbc Holdings PLC lifted its position in 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 purchasing an additional 9,357 shares during the last quarter. Swedbank AB lifted its position in Loews by 44.8% in the first quarter. Swedbank AB now owns 556,350 shares of the insurance provider’s stock valued at $51,134,000 after purchasing an additional 172,004 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Loews by 11.5% during the first quarter. BNP Paribas Financial Markets now owns 428,858 shares of the insurance provider’s stock valued at $39,416,000 after purchasing an additional 44,399 shares during the period. 58.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Loews in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Loews Price Performance

L opened at $99.56 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a market capitalization of $20.65 billion, a PE ratio of 15.83 and a beta of 0.73. The stock’s 50 day moving average price is $98.73 and its 200-day moving average price is $92.98. Loews Corporation has a 52-week low of $75.16 and a 52-week high of $103.52.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, August 4th. The insurance provider reported $1.87 EPS for the quarter. The company had revenue of $4.56 billion during the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.3%. Loews’s payout ratio is presently 3.97%.

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.