First Bancorp Inc ME Takes $194,000 Position in Loews Corporation $L

First Bancorp Inc ME acquired a new position in shares of Loews Corporation (NYSE:L) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,883 shares of the insurance provider’s stock, valued at approximately $194,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Integrated Wealth Concepts LLC boosted its position in Loews by 22.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider’s stock worth $329,000 after acquiring an additional 658 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Loews by 9.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider’s stock valued at $2,108,000 after purchasing an additional 2,057 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Loews by 12.2% in the first quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock worth $350,000 after purchasing an additional 414 shares in the last quarter. Woodline Partners LP lifted its position in shares of Loews by 37.5% in the first quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock worth $1,372,000 after purchasing an additional 4,071 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Loews by 53.5% during the second quarter. Cetera Investment Advisers now owns 7,156 shares of the insurance provider’s stock worth $656,000 after purchasing an additional 2,493 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Loews has an average rating of “Strong Buy”.

Insider Transactions at Loews

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

Loews Stock Performance

Shares of NYSE L opened at $110.84 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a 50 day moving average price of $113.85 and a 200 day moving average price of $110.25. The stock has a market capitalization of $22.66 billion, a PE ratio of 13.58 and a beta of 0.52. Loews Corporation has a 52 week low of $95.10 and a 52 week high of $121.01.

Loews (NYSE:L) last posted its quarterly earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share for the quarter. Loews had a return on equity of 8.60% and a net margin of 9.02%.The firm had revenue of $4.73 billion for the quarter.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be 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 is Wednesday, August 19th. Loews’s payout ratio is presently 3.06%.

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.