Lifeworks Advisors LLC Takes Position in Loews Corporation $L

Lifeworks Advisors LLC purchased a new stake in shares of Loews Corporation (NYSE:LFree Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 44,866 shares of the insurance provider’s stock, valued at approximately $4,789,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Loews in the 4th quarter worth about $577,279,000. Goldman Sachs Group Inc. lifted its position in shares of Loews by 32.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,237,922 shares of the insurance provider’s stock worth $340,986,000 after buying an additional 786,381 shares in the last quarter. Caisse de depot et placement du Quebec boosted its stake in shares of Loews by 819.0% in the 4th quarter. Caisse de depot et placement du Quebec now owns 448,032 shares of the insurance provider’s stock worth $47,182,000 after buying an additional 399,281 shares during the last quarter. Danske Bank A S purchased a new position in shares of Loews in the 3rd quarter worth approximately $35,724,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Loews by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider’s stock valued at $419,581,000 after acquiring an additional 344,995 shares in the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Dino Robusto bought 5,000 shares of the stock in a transaction on Friday, May 29th. The shares were purchased at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the purchase, the director directly owned 10,235 shares in the company, valued at $1,072,013.90. This represents a 95.51% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 19.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

View Our Latest Analysis on L

Loews Trading Up 0.1%

Shares of L stock opened at $115.09 on Monday. The company has a 50 day moving average of $108.84 and a 200-day moving average of $108.05. 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 12-month low of $89.32 and a 12-month high of $119.10. The firm has a market cap of $23.68 billion, a P/E ratio of 14.62 and a beta of 0.52.

Loews (NYSE:LGet Free Report) last posted 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 company had revenue of $4.55 billion for the quarter.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were paid a $0.0625 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s payout ratio is presently 3.18%.

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.

See Also

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Institutional Ownership by Quarter for Loews (NYSE:L)

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