Squarepoint Ops LLC Sells 28,671 Shares of Loews Co. (NYSE:L)

Squarepoint Ops LLC trimmed its position in shares of Loews Co. (NYSE:L) by 77.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,271 shares of the insurance provider’s stock after selling 28,671 shares during the quarter. Squarepoint Ops LLC’s holdings in Loews were worth $700,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in L. Norges Bank bought a new stake in Loews in the 4th quarter valued at $623,493,000. Boston Partners lifted its position in Loews by 16.9% in the 4th quarter. Boston Partners now owns 1,499,417 shares of the insurance provider’s stock valued at $126,983,000 after acquiring an additional 217,115 shares in the last quarter. Geode Capital Management LLC lifted its position in Loews by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider’s stock valued at $378,087,000 after acquiring an additional 210,594 shares in the last quarter. First Trust Advisors LP lifted its position in Loews by 51.2% in the 4th quarter. First Trust Advisors LP now owns 531,038 shares of the insurance provider’s stock valued at $44,974,000 after acquiring an additional 179,772 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Loews in the 4th quarter valued at $12,727,000. 58.33% of the stock is owned by institutional investors.

Insider Transactions at Loews

In other news, SVP Richard Waldo Scott sold 9,019 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $87.92, for a total transaction of $792,950.48. Following the transaction, the senior vice president now directly owns 33,901 shares in the company, valued at $2,980,575.92. The trade was a 21.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan M. Tisch sold 47,636 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the completion of the transaction, the director now owns 6,705,529 shares in the company, valued at approximately $569,165,301.52. This trade represents a 0.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 106,655 shares of company stock worth $9,069,294 in the last ninety days. Insiders own 19.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Loews from a “hold” rating to a “buy” rating in a research report on Tuesday, May 6th.

Loews Trading Up 0.4%

Shares of NYSE:L opened at $89.64 on Tuesday. The company’s 50-day moving average price is $87.22 and its two-hundred day moving average price is $85.82. 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 Co. has a one year low of $73.15 and a one year high of $92.42. The stock has a market capitalization of $18.80 billion, a PE ratio of 14.01 and a beta of 0.70.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, May 5th. The insurance provider reported $1.74 EPS for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%. The firm had revenue of $4.49 billion for the quarter.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be paid a dividend of $0.0625 per share. The ex-dividend date is Wednesday, May 28th. This represents a $0.25 annualized dividend and a dividend yield of 0.28%. Loews’s dividend payout ratio is presently 4.11%.

Loews Company 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.