Y Intercept Hong Kong Ltd Lowers Position in Loews Corporation $L

Y Intercept Hong Kong Ltd lessened its position in Loews Corporation (NYSE:L) by 70.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,726 shares of the insurance provider’s stock after selling 16,167 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Loews were worth $718,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in L. DV Equities LLC bought a new position in Loews in the fourth quarter worth $25,000. Harbor Capital Advisors Inc. bought a new stake in shares of Loews during the 4th quarter valued at $27,000. Harbor Investment Advisory LLC purchased a new stake in shares of Loews in the 4th quarter worth about $30,000. 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 period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in shares of Loews in the 3rd quarter worth about $30,000. 58.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Loews has an average rating of “Strong Buy”.

Insider Activity at Loews

In other news, Director Dino Robusto acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average price of $104.74 per share, with a total value of $523,700.00. Following the completion of the acquisition, the director directly owned 10,235 shares of the company’s stock, valued at approximately $1,072,013.90. The trade was a 95.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 19.00% of the stock is owned by insiders.

Loews Stock Up 0.1%

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

Loews (NYSE:L) last issued its earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share (EPS) 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 company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th 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, May 27th. Loews’s dividend payout ratio (DPR) is 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.