8,611 Shares in Loews Corporation $L Purchased by Quantum Portfolio Management LLC

Quantum Portfolio Management LLC bought a new stake in shares of Loews Corporation (NYSE:L) in the first quarter, Holdings Channel.com reports. The firm bought 8,611 shares of the insurance provider’s stock, valued at approximately $919,000.

Several other large investors also recently made changes to their positions in L. Hancock Whitney Corp raised its holdings in shares of Loews by 3.9% during the third quarter. Hancock Whitney Corp now owns 2,618 shares of the insurance provider’s stock valued at $263,000 after buying an additional 98 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in Loews by 0.3% in the 4th quarter. IFM Investors Pty Ltd now owns 31,867 shares of the insurance provider’s stock worth $3,356,000 after buying an additional 100 shares in the last quarter. Independent Advisor Alliance grew its holdings in Loews by 4.3% in the 4th quarter. Independent Advisor Alliance now owns 2,603 shares of the insurance provider’s stock worth $274,000 after buying an additional 107 shares in the last quarter. Ballentine Partners LLC increased its position in Loews by 2.7% in the 4th quarter. Ballentine Partners LLC now owns 4,197 shares of the insurance provider’s stock valued at $442,000 after acquiring an additional 111 shares during the period. Finally, Sanctuary Advisors LLC increased its position in Loews by 0.8% in the 4th quarter. Sanctuary Advisors LLC now owns 14,006 shares of the insurance provider’s stock valued at $1,475,000 after acquiring an additional 115 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Activity at Loews

In other news, Director Dino Robusto bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were purchased 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 in the company, valued at approximately $1,072,013.90. This trade represents a 95.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 19.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

Loews Stock Performance

Shares of L opened at $115.15 on Thursday. The firm has a market capitalization of $23.69 billion, a PE ratio of 14.63 and a beta of 0.52. 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 firm has a 50-day moving average price of $108.71 and a 200 day moving average price of $107.94. Loews Corporation has a 52-week low of $89.32 and a 52-week high of $119.10.

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

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were paid a dividend of $0.0625 per share. 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 currently 3.18%.

Loews 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.