Bellwether Advisors LLC Purchases New Shares in Loews Corporation $L

Key Points

• Bellwether Advisors LLC initiated a new position in Loews during the first quarter, buying 41,343 shares valued at about $4.41 million.
• Loews stock was little changed at $114.53, near its 52-week high, with a market cap of $23.57 billion and a relatively low beta of 0.52.
• The company recently reported quarterly EPS of $1.63 and paid a $0.0625 quarterly dividend, while insider buying also stood out as Director Dino Robusto increased his stake by 95.51%.

Bellwether Advisors LLC purchased a new stake in shares of Loews Corporation (NYSE:L - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 41,343 shares of the insurance provider's stock, valued at approximately $4,413,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DV Equities LLC purchased a new position in Loews during the fourth quarter valued at $25,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Loews in the 4th quarter worth about $27,000. Harbor Investment Advisory LLC bought a new position in shares of Loews in the 4th quarter worth about $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in shares of Loews in the 3rd quarter worth about $30,000. Finally, Private Trust Co. NA lifted its position in Loews by 896.7% during the 4th quarter. Private Trust Co. NA now owns 299 shares of the insurance provider's stock valued at $31,000 after acquiring an additional 269 shares during the period. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Stock Down 0.0%

L stock opened at $114.53 on Wednesday. The business has a 50 day moving average of $110.03 and a 200 day moving average of $108.44. The firm has a market cap of $23.57 billion, a PE ratio of 14.55 and a beta of 0.52. Loews Corporation has a twelve month low of $89.32 and a twelve month high of $119.10. 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 (NYSE:L - Get Free Report) last released its earnings results on Monday, May 4th. The insurance provider reported $1.63 EPS for the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.The business 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 $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, May 27th. Loews's payout ratio is currently 3.18%.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Loews from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy".

Insider Transactions at Loews

In other news, Director Dino Robusto purchased 5,000 shares of the company's stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the purchase, the director directly 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 19.00% of the stock is currently owned by insiders.

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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