Moran Wealth Management LLC acquired a new stake in Loews Corporation (NYSE:L – Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 33,601 shares of the insurance provider’s stock, valued at approximately $3,587,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. DV Equities LLC purchased a new stake in Loews in the 4th quarter worth $25,000. Harbor Capital Advisors Inc. purchased a new position in Loews during the fourth quarter valued at $27,000. Harbor Investment Advisory LLC purchased a new position in Loews during the fourth quarter valued at $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Loews in the third quarter valued at about $30,000. Finally, Private Trust Co. NA grew its position in shares of 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 purchasing an additional 269 shares during the period. 58.33% of the stock is currently owned by hedge funds and other institutional investors.
Loews Price Performance
L stock opened at $116.46 on Monday. Loews Corporation has a 52-week low of $89.32 and a 52-week high of $116.58. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46. The stock has a market cap of $23.96 billion, a price-to-earnings ratio of 14.80 and a beta of 0.52. The business has a fifty day moving average of $108.43 and a two-hundred day moving average of $107.71.
Loews Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Wednesday, May 27th. Loews’s dividend payout ratio (DPR) is presently 3.18%.
Analyst Ratings Changes
Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company has an average rating of “Strong Buy”.
View Our Latest Research Report on Loews
Insider Transactions at Loews
In related news, Director Dino Robusto purchased 5,000 shares of Loews stock in a transaction on Friday, May 29th. The shares were bought at an average price of $104.74 per share, with a total value of $523,700.00. Following the transaction, the director directly owned 10,235 shares of the company’s stock, valued at approximately $1,072,013.90. This trade represents a 95.51% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 19.00% of the company’s stock.
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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