Swedbank AB Acquires 30,600 Shares of Loews Co. (NYSE:L)

Swedbank AB lifted its holdings in Loews Co. (NYSE:L) by 8.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 379,647 shares of the insurance provider’s stock after buying an additional 30,600 shares during the period. Swedbank AB owned about 0.17% of Loews worth $30,011,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. TD Asset Management Inc lifted its position in Loews by 77.9% in the second quarter. TD Asset Management Inc now owns 525,920 shares of the insurance provider’s stock worth $39,307,000 after buying an additional 230,231 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Loews by 106.3% during the second quarter. Bank of Montreal Can now owns 353,160 shares of the insurance provider’s stock valued at $27,338,000 after buying an additional 182,009 shares during the period. Lee Danner & Bass Inc. bought a new position in shares of Loews during the second quarter valued at approximately $13,379,000. Dimensional Fund Advisors LP raised its holdings in shares of Loews by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider’s stock worth $199,858,000 after buying an additional 161,810 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Loews by 22.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 569,156 shares of the insurance provider’s stock worth $44,992,000 after acquiring an additional 105,810 shares during the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Ann E. Berman sold 1,087 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total transaction of $88,460.06. Following the transaction, the director now directly owns 4,998 shares of the company’s stock, valued at approximately $406,737.24. This represents a 17.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew H. Tisch sold 75,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $83.16, for a total value of $6,237,000.00. Following the completion of the sale, the director now directly owns 12,089,677 shares of the company’s stock, valued at $1,005,377,539.32. The trade was a 0.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 213,587 shares of company stock worth $17,586,460 in the last three months. 18.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. StockNews.com lowered Loews from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Jefferies Financial Group reduced their target price on shares of Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st.

Loews Stock Performance

Shares of Loews stock opened at $85.82 on Tuesday. Loews Co. has a 12 month low of $67.20 and a 12 month high of $86.90. The stock’s fifty day moving average price is $80.58 and its 200-day moving average price is $78.46. The firm has a market cap of $18.69 billion, a P/E ratio of 11.40 and a beta of 0.82. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48.

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th will be given a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Wednesday, November 27th. Loews’s payout ratio is 3.32%.

Loews Profile

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.