Skandinaviska Enskilda Banken AB publ Sells 61,900 Shares of Loews Co. (NYSE:L)

Skandinaviska Enskilda Banken AB publ trimmed its stake in Loews Co. (NYSE:L) by 44.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and 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.

Several other hedge funds and other institutional investors have also recently bought and sold shares of L. Venturi Wealth Management LLC grew its position in shares of Loews by 10.6% during the 4th quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider’s stock valued at $105,000 after acquiring an additional 119 shares during the period. Wedmont Private Capital increased its position in Loews by 5.2% in the fourth quarter. Wedmont Private Capital now owns 3,065 shares of the insurance provider’s stock worth $249,000 after buying an additional 151 shares during the last quarter. Summit Trail Advisors LLC raised its stake in shares of Loews by 2.6% in the third quarter. Summit Trail Advisors LLC now owns 6,038 shares of the insurance provider’s stock valued at $477,000 after buying an additional 153 shares during the period. Mather Group LLC. lifted its position in shares of Loews by 7.7% during the 4th quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider’s stock valued at $190,000 after buying an additional 161 shares during the last quarter. Finally, Perigon Wealth Management LLC grew its stake in shares of Loews by 5.9% during the 4th quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider’s stock worth $285,000 after acquiring an additional 183 shares during the period. 58.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Loews from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

Loews Stock Up 2.1 %

Loews stock opened at $86.56 on Friday. The firm has a 50 day simple moving average of $84.75 and a 200 day simple moving average of $82.86. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a 1-year low of $72.91 and a 1-year high of $88.29. The firm has a market capitalization of $18.43 billion, a price-to-earnings ratio of 13.53 and a beta of 0.80.

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

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews’s payout ratio is 3.91%.

Insider Activity

In related news, Director Jonathan M. Tisch sold 47,636 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $84.88, for a total value of $4,043,343.68. Following the sale, the director now directly owns 6,705,529 shares of the company’s stock, valued at $569,165,301.52. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jonathan M. Tisch sold 3,691 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total transaction of $320,710.99. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 158,860 shares of company stock worth $13,486,463. 18.70% of the stock is owned by company insiders.

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.