First Trust Advisors LP Raises Position in Loews Corporation $L

Key Points

• First Trust Advisors LP increased its stake in Loews by 31.6% in Q3, buying 119,210 shares to hold 496,997 shares worth about $49.9 million (roughly 0.24% of the company); overall institutional investors own about 58.3% of the stock.
• Corporate insiders have been net sellers recently, offloading 105,417 shares valued at approximately $11.36 million over the last 90 days, although insiders still hold about 19% of Loews.
• Loews has a market cap of $22.4 billion and a P/E of ~13.6, reported Q earnings of $1.94 EPS on $4.73 billion revenue, trades around $108.72 (52-week range $78.98–$114.90), pays a $0.25 annual dividend (0.2% yield), and carries a consensus/Weiss Ratings view of “Strong Buy” / buy (A-).

First Trust Advisors LP increased its stake in Loews Corporation (NYSE:L - Free Report) by 31.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 496,997 shares of the insurance provider's stock after buying an additional 119,210 shares during the quarter. First Trust Advisors LP owned about 0.24% of Loews worth $49,894,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of L. SJS Investment Consulting Inc. boosted its holdings in Loews by 880.8% in the 3rd quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider's stock worth $26,000 after acquiring an additional 229 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in shares of Loews during the second quarter valued at approximately $27,000. Westside Investment Management Inc. lifted its position in shares of Loews by 100.0% during the third quarter. Westside Investment Management Inc. now owns 370 shares of the insurance provider's stock worth $37,000 after purchasing an additional 185 shares in the last quarter. MTM Investment Management LLC acquired a new position in shares of Loews during the second quarter worth $41,000. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of Loews in the second quarter valued at $44,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Loews Price Performance

Shares of NYSE L opened at $108.72 on Thursday. Loews Corporation has a fifty-two week low of $78.98 and a fifty-two week high of $114.90. The business has a 50 day moving average price of $107.01 and a two-hundred day moving average price of $103.50. 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 firm has a market cap of $22.40 billion, a PE ratio of 13.62 and a beta of 0.60.

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

Loews Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "buy (a-)" rating on shares of Loews in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Strong Buy".

Insider Activity at Loews

In other news, VP Marc A. Alpert sold 3,495 shares of the business's stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $109.87, for a total value of $383,995.65. Following the completion of the sale, the vice president owned 16,325 shares of the company's stock, 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann E. Berman sold 1,922 shares of the company's stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $110.16, for a total transaction of $211,727.52. Following the completion of the sale, the director owned 4,998 shares in the company, valued at approximately $550,579.68. This trade represents a 27.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 105,417 shares of company stock valued at $11,362,723 over the last ninety days. Corporate insiders own 19.00% of the company's stock.

Loews Company 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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