Loews Corporation $L Shares Acquired by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its Loews stake by 190.6% in the first quarter, acquiring 18,588 additional shares for a total position worth approximately $3.03 million. Institutional investors and hedge funds own 58.33% of Loews.
• Loews director Dino Robusto purchased 5,000 shares for about $523,700, nearly doubling his direct holdings. Company insiders own 19% of the stock.
• Loews reported quarterly earnings of $2.16 per share on $4.73 billion in revenue, while Weiss Ratings upgraded the stock to “buy (a-).” The company also declared a quarterly dividend of $0.0625 per share.

Cetera Investment Advisers increased its holdings in Loews Corporation (NYSE:L - Free Report) by 190.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,342 shares of the insurance provider's stock after buying an additional 18,588 shares during the period. Cetera Investment Advisers' holdings in Loews were worth $3,025,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in L. DV Equities LLC acquired a new position in Loews during the fourth quarter worth about $25,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Loews in the fourth quarter valued at approximately $27,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in shares of Loews during the 3rd quarter worth approximately $30,000. Private Trust Co. NA raised its position in shares of Loews by 896.7% during the 4th quarter. Private Trust Co. NA now owns 299 shares of the insurance provider's stock worth $31,000 after purchasing an additional 269 shares during the last quarter. Finally, SHP Wealth Management acquired a new position in shares of Loews during the 4th quarter worth approximately $35,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Loews news, Director Dino Robusto purchased 5,000 shares of Loews stock in a transaction on Friday, May 29th. The shares were bought at an average price of $104.74 per share, with a total value of $523,700.00. Following the purchase, the director directly owned 10,235 shares in the company, valued at $1,072,013.90. This trade represents a 95.51% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 19.00% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Loews from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Strong Buy".

Loews Price Performance

Loews stock opened at $115.84 on Friday. The stock has a market capitalization of $23.68 billion, a P/E ratio of 14.20 and a beta of 0.52. Loews Corporation has a 12-month low of $92.93 and a 12-month high of $121.01. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.36 and a quick ratio of 0.36. The firm's 50-day moving average is $112.30 and its two-hundred day moving average is $109.48.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The insurance provider reported $2.16 earnings per share for the quarter. The business had revenue of $4.73 billion during the quarter. Loews had a net margin of 9.02% and a return on equity of 8.60%.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th will be issued a $0.0625 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews's payout ratio is 3.06%.

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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