Allianz Asset Management GmbH Decreases Position in Loews Corporation (L)

Allianz Asset Management GmbH decreased its position in shares of Loews Corporation (NYSE:L) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 251,230 shares of the insurance provider’s stock after selling 1,910 shares during the period. Allianz Asset Management GmbH owned about 0.07% of Loews worth $12,024,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of L. Aviva PLC increased its holdings in Loews by 2.9% during the 2nd quarter. Aviva PLC now owns 170,632 shares of the insurance provider’s stock worth $7,989,000 after purchasing an additional 4,860 shares during the period. Commonwealth Bank of Australia increased its holdings in Loews by 38.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 654,351 shares of the insurance provider’s stock worth $30,627,000 after purchasing an additional 181,616 shares during the period. Swiss National Bank increased its holdings in Loews by 3.0% during the 2nd quarter. Swiss National Bank now owns 1,045,419 shares of the insurance provider’s stock worth $48,936,000 after purchasing an additional 30,600 shares during the period. Hosking Partners LLP increased its holdings in Loews by 1.7% during the 2nd quarter. Hosking Partners LLP now owns 165,663 shares of the insurance provider’s stock worth $7,755,000 after purchasing an additional 2,731 shares during the period. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Loews during the 2nd quarter worth about $1,686,000. 59.39% of the stock is currently owned by hedge funds and other institutional investors.

Loews Corporation (NYSE:L) opened at $49.75 on Friday. The company has a market capitalization of $16,646.41, a PE ratio of 17.17 and a beta of 0.74. Loews Corporation has a 1-year low of $45.01 and a 1-year high of $51.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.35 and a quick ratio of 0.35.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, October 30th. The insurance provider reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.44. The company had revenue of $3.52 billion for the quarter. Loews had a net margin of 7.04% and a return on equity of 4.08%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 earnings per share. sell-side analysts forecast that Loews Corporation will post 2.75 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Wednesday, November 29th were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Tuesday, November 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.50%. Loews’s dividend payout ratio is 8.90%.

In other Loews news, VP Mark S. Schwartz sold 6,489 shares of Loews stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $50.25, for a total value of $326,072.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jonathan M. Tisch sold 1,394,935 shares of Loews stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $48.40, for a total transaction of $67,514,854.00. Following the completion of the sale, the insider now owns 2,169,075 shares in the company, valued at $104,983,230. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,420,223 shares of company stock worth $68,779,839. Insiders own 11.80% of the company’s stock.

Several equities research analysts have weighed in on L shares. Zacks Investment Research upgraded Loews from a “sell” rating to a “hold” rating in a report on Tuesday. ValuEngine downgraded Loews from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Finally, BidaskClub downgraded Loews from a “hold” rating to a “sell” rating in a report on Thursday, August 24th.

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Loews Company Profile

Loews Corporation is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. The Company has five segments consisted of its four individual operating subsidiaries, CNA Financial Corporation (CNA), Diamond Offshore Drilling, Inc (Diamond Offshore), Boardwalk Pipeline Partners, LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels), and the Corporate segment.

Institutional Ownership by Quarter for Loews (NYSE:L)

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