Dorsey Wright & Associates Buys Shares of 10,612 Loews Corporation $L

Key Points

• Dorsey Wright & Associates initiated a new position in Loews, buying 10,612 shares worth about $1.13 million in the first quarter.
• Insider buying also picked up, with director Dino Robusto purchasing 5,000 shares at $104.74 each, increasing his ownership by about 95.5%.
• Loews shares were up 0.5% and recently traded at $114.47, while the company reported quarterly EPS of $1.63 and continues to pay a small dividend yield of 0.2%.

Dorsey Wright & Associates bought a new stake in shares of Loews Corporation (NYSE:L - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 10,612 shares of the insurance provider's stock, valued at approximately $1,133,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Kesler Norman & Wride LLC increased its position in Loews by 1.6% during the 1st quarter. Kesler Norman & Wride LLC now owns 11,579 shares of the insurance provider's stock valued at $1,236,000 after buying an additional 179 shares in the last quarter. Kera Capital Partners Inc. raised its stake in Loews by 18.8% during the first quarter. Kera Capital Partners Inc. now owns 2,252 shares of the insurance provider's stock valued at $240,000 after buying an additional 357 shares during the last quarter. Assetmark Inc. boosted its holdings in Loews by 8.1% in the first quarter. Assetmark Inc. now owns 3,803 shares of the insurance provider's stock worth $406,000 after acquiring an additional 285 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super bought a new stake in Loews in the first quarter worth $2,996,000. Finally, Wealthfront Advisers LLC grew its stake in shares of Loews by 3.0% in the first quarter. Wealthfront Advisers LLC now owns 56,841 shares of the insurance provider's stock worth $6,067,000 after acquiring an additional 1,653 shares during the last quarter. 58.33% of the stock is owned by institutional investors.

Insider Activity at Loews

In other Loews news, Director Dino Robusto purchased 5,000 shares of the firm's stock in a transaction dated Friday, May 29th. The stock was purchased at an average price 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 of the company's stock, valued at $1,072,013.90. This trade represents a 95.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 19.00% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Loews from a "buy (a-)" rating to a "buy (b+)" rating in a report on Monday, July 13th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy".

Loews Trading Up 0.5%

Shares of NYSE L opened at $114.47 on Friday. The firm's 50 day moving average price is $109.60 and its 200-day moving average price is $108.30. Loews Corporation has a 52-week low of $89.32 and a 52-week high of $119.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market cap of $23.55 billion, a PE ratio of 14.55 and a beta of 0.52.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $4.55 billion during the quarter.

Loews Dividend Announcement

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

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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