Skandinaviska Enskilda Banken AB publ Cuts Position in Loews Co. (NYSE:L)

Skandinaviska Enskilda Banken AB publ decreased its position in Loews Co. (NYSE:L - Free Report) by 44.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,268 shares of the insurance provider's stock after selling 61,900 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Loews were worth $6,436,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in L. Charles Schwab Investment Management Inc. grew its holdings in shares of Loews by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider's stock valued at $127,409,000 after purchasing an additional 8,615 shares in the last quarter. Miracle Mile Advisors LLC acquired a new position in shares of Loews in the fourth quarter worth $315,000. Intech Investment Management LLC grew its stake in shares of Loews by 8.0% in the third quarter. Intech Investment Management LLC now owns 137,566 shares of the insurance provider's stock worth $10,875,000 after acquiring an additional 10,213 shares in the last quarter. Swedbank AB increased its position in shares of Loews by 8.8% during the third quarter. Swedbank AB now owns 379,647 shares of the insurance provider's stock worth $30,011,000 after acquiring an additional 30,600 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of Loews by 47.8% in the third quarter. PNC Financial Services Group Inc. now owns 37,319 shares of the insurance provider's stock valued at $2,950,000 after acquiring an additional 12,070 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

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Loews Stock Up 1.0 %

Shares of L traded up $0.87 during mid-day trading on Wednesday, reaching $87.81. The company's stock had a trading volume of 919,947 shares, compared to its average volume of 653,161. The company's 50 day moving average is $84.93 and its 200 day moving average is $82.95. The stock has a market cap of $18.69 billion, a PE ratio of 13.72 and a beta of 0.80. Loews Co. has a 12-month low of $72.91 and a 12-month high of $88.29. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 EPS for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a yield of 0.28%. Loews's dividend payout ratio (DPR) is presently 3.91%.

Insiders Place Their Bets

In related news, Director Jonathan M. Tisch sold 3,691 shares of the firm's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $86.89, for a total transaction of $320,710.99. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Andrew H. Tisch sold 7,533 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total value of $635,408.55. Following the sale, the director now owns 1,568,191 shares of the company's stock, valued at $132,276,910.85. This trade represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 158,860 shares of company stock valued at $13,486,463. 18.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Loews from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th.

About Loews

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.