Pinnbrook Capital Management LP Purchases Shares of 11,143 Loews Corporation $L

Key Points

• Pinnbrook Capital Management opened a new position in Loews in Q3, buying 11,143 shares worth about $1.12 million.
• Significant insider selling occurred recently — Andrew H. Tisch sold 50,000 shares (~$5.25M) and Ann E. Berman sold 1,922 shares (~$211.7K); insiders sold 155,417 shares (~$16.8M) last quarter but still own 19% of the company.
• Analyst and financial snapshot: Weiss Ratings reissued a "Buy (A-)" and MarketBeat shows an average "Strong Buy"; Loews has a $22.26B market cap, P/E of 13.54, last-quarter EPS of $1.94, and an annualized dividend of $0.25 (yield ~0.2%).

Pinnbrook Capital Management LP purchased a new position in Loews Corporation (NYSE:L - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,143 shares of the insurance provider's stock, valued at approximately $1,119,000.

Several other institutional investors and hedge funds have also made changes to their positions in L. SJS Investment Consulting Inc. increased its position in shares of Loews by 880.8% in the 3rd quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 229 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in Loews during the 2nd quarter worth about $27,000. Westside Investment Management Inc. lifted its position in Loews by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 370 shares of the insurance provider's stock worth $37,000 after acquiring an additional 185 shares during the period. MTM Investment Management LLC purchased a new stake in Loews during the 2nd quarter valued at about $41,000. Finally, Wilmington Savings Fund Society FSB grew its stake in Loews by 108.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 450 shares of the insurance provider's stock valued at $45,000 after purchasing an additional 234 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Loews

In other news, Director Ann E. Berman sold 1,922 shares of the business's stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $110.16, for a total value of $211,727.52. Following the completion of the transaction, the director owned 4,998 shares of the company's stock, valued at $550,579.68. The trade was a 27.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Andrew H. Tisch sold 50,000 shares of the company's stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $105.07, for a total value of $5,253,500.00. Following the completion of the sale, the director owned 12,909,642 shares in the company, valued at $1,356,416,084.94. The trade was a 0.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 155,417 shares of company stock worth $16,803,223. Insiders own 19.00% of the company's stock.

Loews Stock Down 0.4%

L stock opened at $108.02 on Friday. The company has a market capitalization of $22.26 billion, a P/E ratio of 13.54 and a beta of 0.60. Loews Corporation has a 12 month low of $78.98 and a 12 month high of $114.90. The firm's fifty day simple moving average is $107.14 and its 200-day simple moving average is $103.62. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.36 and a quick ratio of 0.36.

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

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were paid a dividend of $0.0625 per share. The ex-dividend date was Wednesday, February 25th. 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 3.13%.

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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