Dorsey Wright & Associates purchased a new position in Loews Corporation (NYSE:L – Free Report) in the first quarter, Holdings Channel.com reports. The firm purchased 10,612 shares of the insurance provider’s stock, valued at approximately $1,133,000.
Several other hedge funds have also recently made changes to their positions in L. Kesler Norman & Wride LLC lifted its position in Loews by 1.6% during the first quarter. Kesler Norman & Wride LLC now owns 11,579 shares of the insurance provider’s stock valued at $1,236,000 after purchasing an additional 179 shares during the period. Kera Capital Partners Inc. boosted its holdings in Loews by 18.8% in the first quarter. Kera Capital Partners Inc. now owns 2,252 shares of the insurance provider’s stock worth $240,000 after purchasing an additional 357 shares during the last quarter. Assetmark Inc. grew its position in Loews by 8.1% in the 1st quarter. Assetmark Inc. now owns 3,803 shares of the insurance provider’s stock worth $406,000 after purchasing an additional 285 shares during the period. Aware Super Pty Ltd as trustee of Aware Super bought a new stake in Loews in the 1st quarter worth approximately $2,996,000. Finally, Wealthfront Advisers LLC raised its stake in Loews by 3.0% during the 1st quarter. Wealthfront Advisers LLC now owns 56,841 shares of the insurance provider’s stock valued at $6,067,000 after buying an additional 1,653 shares during the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Loews news, Director Dino Robusto bought 5,000 shares of Loews stock in a transaction on Friday, May 29th. The stock was acquired at an average cost of $104.74 per share, with a total value of $523,700.00. Following the completion of the acquisition, the director owned 10,235 shares in the company, valued at approximately $1,072,013.90. This represents a 95.51% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 19.00% of the company’s stock.
Loews Trading Up 0.5%
Loews (NYSE:L – Get Free Report) last released its quarterly earnings results on Monday, May 4th. The insurance provider reported $1.63 EPS for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%. The firm had revenue of $4.55 billion during the quarter.
Loews Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date was Wednesday, May 27th. Loews’s payout ratio is 3.18%.
Analyst Ratings Changes
Separately, Weiss Ratings cut Loews from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy”.
Get Our Latest Report on Loews
Loews Profile
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.
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