Loews Corporation (L) Stake Decreased by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lessened its position in shares of Loews Corporation (NYSE:L) by 13.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 845,162 shares of the insurance provider’s stock after selling 128,289 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.25% of Loews Corporation worth $40,449,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of L. Aviva PLC lifted its stake in Loews Corporation by 2.9% in the 2nd quarter. Aviva PLC now owns 170,632 shares of the insurance provider’s stock valued at $7,989,000 after purchasing an additional 4,860 shares during the last quarter. Commonwealth Bank of Australia lifted its stake in Loews Corporation by 38.4% in the 2nd quarter. Commonwealth Bank of Australia now owns 654,351 shares of the insurance provider’s stock valued at $30,627,000 after purchasing an additional 181,616 shares during the last quarter. Swiss National Bank lifted its stake in Loews Corporation by 3.0% in the 2nd quarter. Swiss National Bank now owns 1,045,419 shares of the insurance provider’s stock valued at $48,936,000 after purchasing an additional 30,600 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Loews Corporation by 0.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 17,100 shares of the insurance provider’s stock valued at $800,000 after purchasing an additional 100 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in Loews Corporation in the 2nd quarter valued at approximately $1,686,000. 59.05% of the stock is owned by institutional investors.

Several equities analysts recently commented on the stock. BidaskClub downgraded shares of Loews Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research raised shares of Loews Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, ValuEngine downgraded shares of Loews Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th.

In other news, SVP Richard Waldo Scott sold 6,471 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $49.80, for a total transaction of $322,255.80. Following the completion of the sale, the senior vice president now directly owns 11,250 shares in the company, valued at $560,250. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jonathan M. Tisch sold 1,394,935 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $48.40, for a total transaction of $67,514,854.00. Following the sale, the insider now owns 2,169,075 shares of the company’s stock, valued at $104,983,230. The disclosure for this sale can be found here. Insiders have sold 1,401,603 shares of company stock valued at $67,846,868 in the last ninety days. Insiders own 11.80% of the company’s stock.

Shares of Loews Corporation (NYSE:L) traded up $0.13 during trading hours on Tuesday, reaching $49.35. 717,300 shares of the company traded hands, compared to its average volume of 852,532. The company has a market cap of $16,570.00, a P/E ratio of 17.09 and a beta of 0.75. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.35 and a current ratio of 0.35. Loews Corporation has a fifty-two week low of $43.89 and a fifty-two week high of $49.99.

Loews Corporation (NYSE:L) last released its quarterly earnings results on Monday, October 30th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.44. The firm had revenue of $3.52 billion during the quarter. Loews Corporation had a net margin of 7.04% and a return on equity of 4.08%. Loews Corporation’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.89 EPS. equities analysts predict that Loews Corporation will post 2.75 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Wednesday, November 29th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Tuesday, November 28th. Loews Corporation’s payout ratio is currently 8.68%.

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About Loews Corporation

Loews Corporation is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. The Company has five segments consisted of its four individual operating subsidiaries, CNA Financial Corporation (CNA), Diamond Offshore Drilling, Inc (Diamond Offshore), Boardwalk Pipeline Partners, LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels), and the Corporate segment.

Institutional Ownership by Quarter for Loews Corporation (NYSE:L)

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