Lifeworks Advisors LLC Buys New Shares in Loews Corporation $L

Key Points

• Lifeworks Advisors LLC opened a new position in Loews during the first quarter, buying 44,866 shares valued at about $4.79 million.
• Other institutional investors have also been active in the stock, and 58.33% of Loews shares are now held by institutions and hedge funds.
• Loews has received a buy (A-) rating from Weiss Ratings, and MarketBeat says the stock’s consensus rating is Strong Buy; insider buying also continues, with director Dino Robusto recently purchasing 5,000 shares.

Lifeworks Advisors LLC bought a new position in shares of Loews Corporation (NYSE:L - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 44,866 shares of the insurance provider's stock, valued at approximately $4,789,000.

A number of other large investors have also bought and sold shares of L. DV Equities LLC acquired a new position in shares of Loews during the fourth quarter valued at about $25,000. Harbor Capital Advisors Inc. bought a new position in shares of Loews during the 4th quarter worth about $27,000. Harbor Investment Advisory LLC acquired a new stake in shares of Loews in the 4th quarter valued at about $30,000. Private Trust Co. NA grew its stake in shares of Loews by 896.7% in the 4th quarter. Private Trust Co. NA now owns 299 shares of the insurance provider's stock valued at $31,000 after buying an additional 269 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Loews in the 3rd quarter valued at about $30,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "buy (a-)" rating on shares of Loews in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Loews currently has a consensus rating of "Strong Buy".

Insider Activity at Loews

In related news, Director Dino Robusto bought 5,000 shares of the company's stock in a transaction dated 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 completion of the acquisition, 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 this link. 19.00% of the stock is currently owned by company insiders.

Loews Stock Up 0.1%

Shares of NYSE L opened at $115.09 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.36 and a quick ratio of 0.36. The company has a 50-day moving average price of $108.84 and a 200-day moving average price of $108.05. The stock has a market capitalization of $23.68 billion, a P/E ratio of 14.62 and a beta of 0.52. Loews Corporation has a 1 year low of $89.32 and a 1 year high of $119.10.

Loews (NYSE:L - Get Free Report) last posted its 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 for the quarter.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews's dividend payout ratio is 3.18%.

About Loews

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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