ABC Arbitrage SA Purchases Shares of 14,867 Loews Corporation $L

ABC Arbitrage SA acquired a new stake in shares of Loews Corporation (NYSE:LFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,867 shares of the insurance provider’s stock, valued at approximately $1,566,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new position in Loews during the 4th quarter worth approximately $27,000. Harbor Investment Advisory LLC acquired a new stake in Loews in the fourth quarter valued at approximately $30,000. Private Trust Co. NA grew its stake in Loews by 896.7% in the fourth quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 269 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in shares of Loews during the third quarter valued at approximately $30,000. Finally, Westfuller Advisors LLC bought a new stake in shares of Loews during the fourth quarter valued at approximately $36,000. Institutional investors own 58.33% of the company’s stock.

Insider Transactions at Loews

In other news, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $108.81, for a total value of $5,440,500.00. Following the completion of the sale, the director owned 12,480,400 shares in the company, valued at $1,357,992,324. This represents a 0.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 19.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Strong Buy”.

Get Our Latest Analysis on L

Loews Stock Down 0.8%

L stock opened at $103.64 on Tuesday. The firm has a market capitalization of $21.33 billion, a PE ratio of 13.17 and a beta of 0.56. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46. Loews Corporation has a twelve month low of $86.77 and a twelve month high of $114.90. The stock’s 50 day moving average is $108.67 and its 200-day moving average is $106.34.

Loews (NYSE:LGet Free Report) last announced its quarterly earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter. The business had revenue of $4.56 billion during the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.

Loews Profile

(Free Report)

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.

Further Reading

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Institutional Ownership by Quarter for Loews (NYSE:L)

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