Intech Investment Management LLC Sells 16,180 Shares of Loews Corporation $L

Intech Investment Management LLC reduced its position in shares of Loews Corporation (NYSE:L) by 34.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,903 shares of the insurance provider’s stock after selling 16,180 shares during the quarter. Intech Investment Management LLC’s holdings in Loews were worth $3,102,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. US Bancorp DE grew its position in shares of Loews by 20.5% during the 3rd quarter. US Bancorp DE now owns 9,421 shares of the insurance provider’s stock worth $946,000 after buying an additional 1,602 shares during the period. Mufg Securities Americas Inc. lifted its holdings in Loews by 18.9% in the third quarter. Mufg Securities Americas Inc. now owns 4,587 shares of the insurance provider’s stock valued at $460,000 after buying an additional 730 shares during the period. AXQ Capital LP boosted its stake in Loews by 80.5% in the third quarter. AXQ Capital LP now owns 8,164 shares of the insurance provider’s stock valued at $820,000 after acquiring an additional 3,642 shares during the last quarter. Compound Planning Inc. grew its holdings in Loews by 8.8% during the 3rd quarter. Compound Planning Inc. now owns 5,971 shares of the insurance provider’s stock worth $599,000 after acquiring an additional 485 shares during the period. Finally, Citigroup Inc. raised its position in shares of Loews by 7.8% during the 3rd quarter. Citigroup Inc. now owns 199,531 shares of the insurance provider’s stock valued at $20,031,000 after acquiring an additional 14,362 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

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 equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Loews currently has a consensus rating of “Strong Buy”.

Loews Stock Up 2.0%

Shares of NYSE:L opened at $112.21 on Tuesday. The company has a 50 day moving average price of $106.54 and a two-hundred day moving average price of $102.86. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market capitalization of $23.12 billion, a PE ratio of 14.06 and a beta of 0.60. Loews Corporation has a 52 week low of $78.98 and a 52 week high of $114.90.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, February 9th. The insurance provider reported $1.94 earnings per share (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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. Loews’s dividend payout ratio (DPR) is currently 3.13%.

Insider Activity

In other Loews news, VP Marc A. Alpert sold 3,495 shares of Loews stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $109.87, for a total value of $383,995.65. Following the transaction, the vice president owned 16,325 shares of the company’s stock, valued at approximately $1,793,627.75. The trade was a 17.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $110.27, for a total transaction of $5,513,500.00. Following the completion of the transaction, the director owned 12,859,642 shares of the company’s stock, valued at $1,418,032,723.34. This trade represents a 0.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 135,417 shares of company stock worth $14,529,823 in the last 90 days. Corporate insiders own 18.70% of the company’s stock.

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.