Mediolanum International Funds Ltd Decreases Stake in Loews Corporation $L

Mediolanum International Funds Ltd lessened its position in shares of Loews Corporation (NYSE:L) by 12.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,685 shares of the insurance provider’s stock after selling 6,037 shares during the period. Mediolanum International Funds Ltd’s holdings in Loews were worth $4,055,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. CPC Advisors LLC acquired a new stake in Loews in the third quarter valued at $6,568,000. Swedbank AB raised its position in shares of Loews by 9.7% during the 3rd quarter. Swedbank AB now owns 443,106 shares of the insurance provider’s stock worth $44,483,000 after acquiring an additional 39,313 shares in the last quarter. Assetmark Inc. lifted its stake in Loews by 182.2% during the second 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. Rakuten Investment Management Inc. acquired a new position in Loews in the third quarter valued at approximately $3,827,000. Finally, Permanent Capital Management LP purchased a new position in Loews in the third quarter valued at approximately $1,551,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Loews Stock Up 0.2%

L stock opened at $105.74 on Tuesday. Loews Corporation has a 12 month low of $78.98 and a 12 month high of $109.06. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.35 and a quick ratio of 0.35. The company has a market cap of $21.85 billion, a price-to-earnings ratio of 15.32 and a beta of 0.61. The company has a fifty day moving average price of $104.85 and a 200 day moving average price of $100.43.

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

Loews Announces Dividend

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

Analysts Set New Price Targets

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

Insider Activity at Loews

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $105.07, for a total transaction of $5,253,500.00. Following the completion of the sale, the director directly owned 12,909,642 shares of the company’s stock, valued at approximately $1,356,416,084.94. This trade represents a 0.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles M. Diker sold 1,442 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director directly owned 21,594 shares in the company, valued at approximately $2,330,640.42. The trade was a 6.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 125,770 shares of company stock worth $13,325,818 in the last ninety days. Company insiders own 18.70% of the company’s stock.

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.