Ashton Thomas Private Wealth LLC Boosts Stake in Loews Corporation $L

Key Points

• Ashton Thomas Private Wealth LLC raised its stake in Loews by 56.8% in Q4 to 36,360 shares valued at $3,829,000, and hedge funds/institutions now hold about 58.33% of the stock.
• Loews fundamentals: the company reported Q4 EPS of $1.94 on $4.73 billion revenue, trades near $111 with a market cap of $22.89 billion and a PE of 13.94, and pays a quarterly dividend of $0.0625 (annualized $0.25, ~0.2% yield).
• Insiders sold 105,417 shares worth $11.55 million in the past 90 days (insiders still own 19%); meanwhile Weiss Ratings reissued a buy (A-) and MarketBeat shows an average rating of Strong Buy.

Ashton Thomas Private Wealth LLC lifted its position in shares of Loews Corporation (NYSE:L - Free Report) by 56.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,360 shares of the insurance provider's stock after acquiring an additional 13,175 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in Loews were worth $3,829,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Hancock Whitney Corp boosted its stake in shares of Loews by 3.9% during the 3rd quarter. Hancock Whitney Corp now owns 2,618 shares of the insurance provider's stock worth $263,000 after acquiring an additional 98 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Loews by 6.9% during the 3rd quarter. Versant Capital Management Inc now owns 1,606 shares of the insurance provider's stock worth $161,000 after acquiring an additional 104 shares in the last quarter. Moody Lynn & Lieberson LLC boosted its stake in shares of Loews by 2.9% during the 3rd quarter. Moody Lynn & Lieberson LLC now owns 3,678 shares of the insurance provider's stock worth $369,000 after acquiring an additional 105 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Loews by 0.8% during the 4th quarter. Sanctuary Advisors LLC now owns 14,006 shares of the insurance provider's stock worth $1,475,000 after acquiring an additional 115 shares in the last quarter. Finally, HB Wealth Management LLC boosted its stake in shares of Loews by 1.1% during the 4th quarter. HB Wealth Management LLC now owns 10,609 shares of the insurance provider's stock worth $1,117,000 after acquiring an additional 119 shares in 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 reissued a "buy (a-)" rating on shares of Loews in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company currently has an average rating of "Strong Buy".

Loews Stock Up 0.6%

L opened at $111.23 on Tuesday. Loews Corporation has a twelve month low of $84.89 and a twelve month high of $114.90. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $108.93 and a 200 day moving average price of $105.92. The company has a market cap of $22.89 billion, a PE ratio of 13.94 and a beta of 0.59.

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

Loews Announces Dividend

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

Insider Buying and Selling

In related news, VP Marc A. Alpert sold 3,495 shares of the company's stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $109.87, for a total transaction of $383,995.65. Following the completion of the transaction, the vice president owned 16,325 shares in the company, valued at $1,793,627.75. This represents a 17.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew H. Tisch sold 50,000 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $108.81, for a total transaction of $5,440,500.00. Following the completion of the sale, the director owned 12,480,400 shares of the company's stock, valued at approximately $1,357,992,324. The trade was a 0.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 105,417 shares of company stock worth $11,549,723 in the last 90 days. 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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