QRG Capital Management Inc. Purchases 10,216 Shares of Loews Corporation $L

Key Points

• QRG Capital Management increased its stake in Loews by 37.4% in Q4, adding 10,216 shares to hold 37,538 shares worth about $3.95 million.
• Significant insider selling: Director Andrew H. Tisch sold 50,000 shares for roughly $5.44 million, and insiders have sold 105,417 shares totaling about $11.55 million in the past 90 days.
• Analyst view and valuation: Weiss Ratings reissued a "Buy (A-)" and the stock has a consensus "Strong Buy"; Loews trades near $105 with a P/E of 13.39 and a market cap of ~$21.7 billion.

QRG Capital Management Inc. increased its holdings in shares of Loews Corporation (NYSE:L - Free Report) by 37.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,538 shares of the insurance provider's stock after acquiring an additional 10,216 shares during the period. QRG Capital Management Inc.'s holdings in Loews were worth $3,953,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Horizon Investments LLC grew its holdings in shares of Loews by 4.8% during the fourth quarter. Horizon Investments LLC now owns 22,419 shares of the insurance provider's stock worth $2,361,000 after purchasing an additional 1,022 shares during the last quarter. Davis Selected Advisers raised its holdings in shares of Loews by 0.7% in the fourth quarter. Davis Selected Advisers now owns 600,046 shares of the insurance provider's stock valued at $63,191,000 after buying an additional 4,349 shares during the last quarter. Mutual Advisors LLC lifted its position in Loews by 6.0% during the 4th quarter. Mutual Advisors LLC now owns 3,242 shares of the insurance provider's stock worth $341,000 after buying an additional 184 shares in the last quarter. Activest Wealth Management grew its holdings in Loews by 888.6% during the 4th quarter. Activest Wealth Management now owns 435 shares of the insurance provider's stock worth $46,000 after acquiring an additional 391 shares during the last quarter. Finally, United Community Bank increased its position in Loews by 9.6% in the 4th quarter. United Community Bank now owns 2,971 shares of the insurance provider's stock valued at $313,000 after acquiring an additional 260 shares in the last quarter. Institutional investors own 58.33% of the company's stock.

Insider Buying and Selling at Loews

In related news, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $108.81, for a total transaction of $5,440,500.00. Following the completion of the sale, the director directly owned 12,480,400 shares of the company's stock, valued at $1,357,992,324. The trade was a 0.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ann E. Berman sold 1,922 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $110.16, for a total value of $211,727.52. Following the completion of the transaction, the director directly owned 4,998 shares in the company, valued at $550,579.68. The trade was a 27.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 105,417 shares of company stock worth $11,549,723. Insiders own 19.00% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "buy (a-)" rating on shares of Loews in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Strong Buy".

Loews Price Performance

Shares of L stock opened at $105.38 on Thursday. The firm has a market cap of $21.68 billion, a price-to-earnings ratio of 13.39 and a beta of 0.56. Loews Corporation has a 12 month low of $86.59 and a 12 month high of $114.90. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $108.98 and a 200 day moving average price of $106.24.

Loews (NYSE:L - Get Free Report) last released its earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter. The company had revenue of $4.56 billion for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, February 25th. Loews's payout ratio is currently 3.18%.

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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