Lombard Odier Asset Management Switzerland SA Reduces Position in Loews Corporation $L

Lombard Odier Asset Management Switzerland SA trimmed its position in Loews Corporation (NYSE:L) by 25.6% in the 1st quarter, HoldingsChannel reports. The fund owned 24,372 shares of the insurance provider’s stock after selling 8,400 shares during the quarter. Lombard Odier Asset Management Switzerland SA’s holdings in Loews were worth $2,601,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Bridgewater Advisors Inc. bought a new position in shares of Loews during the 1st quarter valued at approximately $230,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Loews by 1,252.7% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 90,616 shares of the insurance provider’s stock worth $9,672,000 after purchasing an additional 83,917 shares during the last quarter. Compound Planning Inc. boosted its holdings in Loews by 6.9% during the 1st quarter. Compound Planning Inc. now owns 6,789 shares of the insurance provider’s stock valued at $725,000 after acquiring an additional 437 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Loews by 18.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 105,485 shares of the insurance provider’s stock valued at $11,259,000 after purchasing an additional 16,593 shares during the period. Finally, Inceptionr LLC increased its stake in Loews by 5.9% in the 1st quarter. Inceptionr LLC now owns 16,599 shares of the insurance provider’s stock worth $1,772,000 after buying an additional 923 shares during the period. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling at Loews

In other Loews news, Director Dino Robusto acquired 5,000 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average cost of $104.74 per share, with a total value of $523,700.00. Following the completion of the purchase, the director directly owned 10,235 shares in the company, valued at $1,072,013.90. The trade was a 95.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.00% of the stock is owned by insiders.

Loews Trading Down 0.0%

L opened at $117.88 on Monday. The stock’s fifty day moving average is $110.69 and its two-hundred day moving average is $108.66. The company has a market capitalization of $24.26 billion, a P/E ratio of 14.98 and a beta of 0.52. Loews Corporation has a 52 week low of $89.32 and a 52 week high of $119.10. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46.

Loews (NYSE:L) last issued its earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share for the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.The business had revenue of $4.55 billion during the quarter.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Wednesday, May 27th. Loews’s payout ratio is presently 3.18%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Loews from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Loews Profile

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.