Bellwether Advisors LLC Purchases New Position in Loews Corporation $L

Bellwether Advisors LLC acquired a new position in Loews Corporation (NYSE:L) in the first quarter, HoldingsChannel.com reports. The firm acquired 41,343 shares of the insurance provider’s stock, valued at approximately $4,413,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Loews by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider’s stock valued at $2,045,759,000 after purchasing an additional 108,882 shares during the last quarter. Norges Bank purchased a new position in shares of Loews in the fourth quarter worth $577,279,000. Geode Capital Management LLC raised its stake in shares of Loews by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider’s stock worth $524,599,000 after purchasing an additional 271,234 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Loews by 9.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider’s stock valued at $419,581,000 after purchasing an additional 344,995 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Loews by 0.4% during the third quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider’s stock valued at $337,698,000 after purchasing an additional 12,311 shares in the last quarter. 58.33% of the stock is owned by institutional investors.

Insider Activity

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 currently owned by company insiders.

Loews Stock Down 0.0%

Shares of Loews stock opened at $114.53 on Wednesday. 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. The company’s 50 day moving average is $110.03 and its 200 day moving average is $108.44. The company has a market cap of $23.57 billion, a price-to-earnings ratio of 14.55 and a beta of 0.52.

Loews (NYSE:L) last posted its earnings results on Monday, May 4th. The insurance provider reported $1.63 EPS for the quarter. The business had revenue of $4.55 billion during the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%.

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%.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Loews from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy”.

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.