SG Americas Securities LLC Boosts Stake in Loews Corporation $L

SG Americas Securities LLC boosted its position in shares of Loews Corporation (NYSE:L) by 5,379.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 165,807 shares of the insurance provider’s stock after buying an additional 162,781 shares during the period. SG Americas Securities LLC’s holdings in Loews were worth $17,461,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in L. Norges Bank bought a new stake in Loews in the 2nd quarter worth approximately $665,658,000. Danske Bank A S bought a new position in shares of Loews during the 3rd quarter valued at approximately $35,724,000. Dark Forest Capital Management LP grew its holdings in shares of Loews by 582.8% in the third quarter. Dark Forest Capital Management LP now owns 221,212 shares of the insurance provider’s stock valued at $22,207,000 after purchasing an additional 188,812 shares in the last quarter. Amundi grew its holdings in shares of Loews by 41.6% in the third quarter. Amundi now owns 610,657 shares of the insurance provider’s stock valued at $62,513,000 after purchasing an additional 179,383 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in Loews by 43.2% in the third quarter. CANADA LIFE ASSURANCE Co now owns 446,639 shares of the insurance provider’s stock worth $44,492,000 after purchasing an additional 134,777 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 reiterated a “buy (a-)” rating on shares of Loews in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Strong Buy”.

Insider Activity

In related news, Director Andrew H. Tisch sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $108.81, for a total transaction of $5,440,500.00. Following the completion of the sale, the director directly owned 12,480,400 shares of the company’s stock, valued at approximately $1,357,992,324. This trade represents a 0.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann E. Berman sold 1,922 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $110.16, for a total value of $211,727.52. Following the transaction, the director owned 4,998 shares of the company’s stock, valued at approximately $550,579.68. The trade was a 27.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 105,417 shares of company stock valued at $11,549,723. 19.00% of the stock is currently owned by insiders.

Loews Trading Down 2.8%

Shares of NYSE L opened at $103.93 on Friday. Loews Corporation has a 1-year low of $78.98 and a 1-year high of $114.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.36 and a quick ratio of 0.36. The business’s 50 day moving average is $107.59 and its two-hundred day moving average is $104.31. The stock has a market capitalization of $21.41 billion, a P/E ratio of 13.02 and a beta of 0.60.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, February 9th. The insurance provider reported $1.94 EPS for the quarter. Loews had a net margin of 9.03% and a return on equity of 8.86%. The company had revenue of $4.73 billion during the quarter.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Wednesday, February 25th. Loews’s payout ratio is 3.13%.

About Loews

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.