Walleye Partners LLC Acquires Shares of 68,162 Loews Corporation $L

Key Points

• Walleye Partners acquired a new stake of 68,162 shares in Loews during Q4, valued at about $7.18 million, making the stock roughly 8.0% of Walleye’s portfolio and its third-largest holding.
• Insiders sold a total of 105,417 Loews shares worth $11.55 million in the last quarter — including sales by VP Marc A. Alpert and Director Ann E. Berman — leaving insiders with about 19.0% ownership.
• Loews shares opened at $111.55 (1-year range $84.12–$114.90), the company has a market cap of $22.95 billion and a P/E of 13.98, and Weiss Ratings recently reiterated a “buy (A-)” with an overall MarketBeat consensus of “Strong Buy.”

Walleye Partners LLC acquired a new stake in Loews Corporation (NYSE:L - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 68,162 shares of the insurance provider's stock, valued at approximately $7,178,000. Loews accounts for approximately 8.0% of Walleye Partners LLC's portfolio, making the stock its 3rd biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SJS Investment Consulting Inc. grew its stake in shares of Loews by 880.8% in the third quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider's stock worth $26,000 after purchasing an additional 229 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in Loews during the 4th quarter valued at approximately $27,000. Harbor Investment Advisory LLC purchased a new stake in Loews in the 4th quarter worth approximately $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in shares of Loews in the 3rd quarter worth approximately $30,000. Finally, Private Trust Co. NA grew its position 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 worth $31,000 after buying an additional 269 shares during the last quarter. 58.33% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Marc A. Alpert sold 3,495 shares of Loews stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $109.87, for a total transaction of $383,995.65. Following the sale, the vice president directly owned 16,325 shares in the company, valued at $1,793,627.75. The trade was a 17.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ann E. Berman sold 1,922 shares of the company's stock in a transaction on 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 sale, the director directly owned 4,998 shares in the company, valued at approximately $550,579.68. The trade was a 27.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 105,417 shares of company stock worth $11,549,723 in the last quarter. 19.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "buy (a-)" rating on shares of Loews in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock currently has an average rating of "Strong Buy".

Loews Trading Up 0.4%

Shares of L opened at $111.55 on Wednesday. Loews Corporation has a 1-year low of $84.12 and a 1-year high of $114.90. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. The firm's 50-day moving average price is $108.79 and its 200-day moving average price is $105.68. The firm has a market capitalization of $22.95 billion, a price-to-earnings ratio of 13.98 and a beta of 0.59.

Loews (NYSE:L - Get Free Report) last released its quarterly 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 during the quarter. Loews had a net margin of 9.03% and a return on equity of 8.86%.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Wednesday, February 25th. 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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