Swiss National Bank Sells 23,700 Shares of Loews Co. (NYSE:L)

Swiss National Bank reduced its position in shares of Loews Co. (NYSE:L) by 3.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 599,461 shares of the insurance provider’s stock after selling 23,700 shares during the period. Swiss National Bank’s holdings in Loews were worth $41,716,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new stake in Loews during the 3rd quarter worth about $29,000. Operose Advisors LLC acquired a new position in shares of Loews during the third quarter valued at $30,000. Desjardins Global Asset Management Inc. boosted its holdings in Loews by 225.2% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 340 shares during the last quarter. Lindbrook Capital LLC increased its position in Loews by 41.4% in the fourth quarter. Lindbrook Capital LLC now owns 611 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 179 shares during the period. Finally, GAMMA Investing LLC acquired a new position in Loews during the 4th quarter valued at about $200,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Loews

In related news, Director Andrew H. Tisch sold 125,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total value of $9,130,000.00. Following the sale, the director now directly owns 945,886 shares in the company, valued at approximately $69,087,513.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Paul J. Fribourg sold 951 shares of Loews stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $75.02, for a total transaction of $71,344.02. Following the transaction, the director now owns 21,200 shares in the company, valued at approximately $1,590,424. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew H. Tisch sold 125,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $73.04, for a total transaction of $9,130,000.00. Following the sale, the director now owns 945,886 shares in the company, valued at $69,087,513.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,563 shares of company stock worth $10,052,551. 18.70% of the stock is owned by insiders.

Loews Stock Up 0.1 %

Shares of NYSE L opened at $77.81 on Wednesday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $17.29 billion, a PE ratio of 12.35 and a beta of 0.82. The firm’s 50-day moving average is $76.01 and its 200-day moving average is $71.97. Loews Co. has a 1 year low of $55.94 and a 1 year high of $78.55.

Loews (NYSE:L) last released its earnings results on Monday, May 6th. The insurance provider reported $2.05 EPS for the quarter. The firm had revenue of $4.23 billion during the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%.

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.