AE Wealth Management LLC Takes $5.21 Million Position in Loews Corporation $L

Key Points

• AE Wealth Management opened a new position in Loews in Q4, buying 49,460 shares worth about $5.21 million.
• About 58.33% of Loews is held by institutional investors, while company insiders have sold 105,417 shares (≈$11.55M) in the past 90 days but still own roughly 19% of the stock.
• Loews has a market cap of $22.92 billion and a P/E of 13.96, pays a tiny annualized dividend ($0.25, ~0.2% yield), and carries an average analyst rating of "Strong Buy" with Weiss Ratings reaffirming a buy (A-).

AE Wealth Management LLC acquired a new stake in shares of Loews Corporation (NYSE:L - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 49,460 shares of the insurance provider's stock, valued at approximately $5,209,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Invesco Ltd. raised its stake in Loews by 0.4% during the 3rd quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider's stock valued at $337,698,000 after acquiring an additional 12,311 shares during the last quarter. Legal & General Group Plc raised its stake in Loews by 0.4% during the 3rd quarter. Legal & General Group Plc now owns 1,340,867 shares of the insurance provider's stock valued at $134,610,000 after acquiring an additional 4,792 shares during the last quarter. California State Teachers Retirement System raised its stake in Loews by 12.1% during the 3rd quarter. California State Teachers Retirement System now owns 777,030 shares of the insurance provider's stock valued at $78,006,000 after acquiring an additional 83,669 shares during the last quarter. AQR Capital Management LLC raised its stake in Loews by 8.3% during the 3rd quarter. AQR Capital Management LLC now owns 642,259 shares of the insurance provider's stock valued at $64,351,000 after acquiring an additional 49,336 shares during the last quarter. Finally, Amundi raised its stake in Loews by 41.6% during the 3rd quarter. Amundi now owns 610,657 shares of the insurance provider's stock valued at $62,513,000 after acquiring an additional 179,383 shares during the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "buy (a-)" rating on shares of Loews in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock has an average rating of "Strong Buy".

Loews Stock Performance

NYSE L opened at $111.38 on Monday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. The business's 50 day moving average is $108.75 and its two-hundred day moving average is $105.54. Loews Corporation has a 12-month low of $82.49 and a 12-month high of $114.90. The stock has a market capitalization of $22.92 billion, a price-to-earnings ratio of 13.96 and a beta of 0.59.

Loews (NYSE:L - Get Free Report) last released its earnings results on Monday, February 9th. The insurance provider reported $1.94 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.86% and a net margin of 9.03%.The company had revenue of $4.73 billion for the quarter.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were given a dividend of $0.0625 per share. The ex-dividend date was Wednesday, February 25th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews's payout ratio is presently 3.13%.

Insiders Place Their Bets

In other Loews news, VP Marc A. Alpert sold 3,495 shares of the business's stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $109.87, for a total transaction of $383,995.65. Following the transaction, the vice president owned 16,325 shares in the company, valued at approximately $1,793,627.75. The trade was a 17.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ann E. Berman sold 1,922 shares of the business's stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $110.16, for a total value of $211,727.52. Following the transaction, the director owned 4,998 shares in the company, valued at $550,579.68. The trade was a 27.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 105,417 shares of company stock worth $11,549,723. 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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