Quantum Portfolio Management LLC bought a new position in Loews Corporation (NYSE:L – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,611 shares of the insurance provider’s stock, valued at approximately $919,000.
A number of other institutional investors have also modified their holdings of the stock. DV Equities LLC bought a new stake in Loews in the fourth quarter valued at about $25,000. Harbor Capital Advisors Inc. acquired a new stake in Loews during the fourth quarter valued at approximately $27,000. Harbor Investment Advisory LLC bought a new position in Loews during the 4th quarter worth approximately $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in Loews during the 3rd quarter worth approximately $30,000. Finally, Private Trust Co. NA grew its position in shares of Loews by 896.7% in the 4th quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 269 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.
Insider Buying and Selling at Loews
In related news, Director Dino Robusto purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average price of $104.74 per share, with a total value of $523,700.00. Following the acquisition, the director owned 10,235 shares in the company, valued at approximately $1,072,013.90. This trade represents a 95.51% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 19.00% of the company’s stock.
Loews Price Performance
Loews (NYSE:L – Get Free Report) last released its quarterly earnings data on Monday, May 4th. The insurance provider reported $1.63 earnings per share 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 for the quarter.
Loews Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Wednesday, May 27th. Loews’s dividend payout ratio is presently 3.18%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Loews has a consensus rating of “Strong Buy”.
View Our Latest Stock Report on L
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.
Recommended Stories
- Five stocks we like better than Loews
- A Market Panic Just Discounted the AI Highway’s Tollbooth
- Why Exxon Could Be the Market’s Next Big Comeback Stock
- The Market Just Got Shaken—These 3 ETFs May Come Out Stronger
- Meta Platforms’ Cloud Push: Growth Opportunity Versus AI Concerns
Receive News & Ratings for Loews Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Loews and related companies with MarketBeat.com's FREE daily email newsletter.
