Sei Investments Co. Acquires 5,608 Shares of Loews Corporation $L

Sei Investments Co. raised its holdings in Loews Corporation (NYSE:L) by 2.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 285,552 shares of the insurance provider’s stock after acquiring an additional 5,608 shares during the period. Sei Investments Co.’s holdings in Loews were worth $30,479,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Lido Advisors LLC grew its holdings in shares of Loews by 3.9% during the first quarter. Lido Advisors LLC now owns 2,594 shares of the insurance provider’s stock worth $277,000 after purchasing an additional 97 shares in the last quarter. State of Wyoming raised its stake in Loews by 61.0% in the first quarter. State of Wyoming now owns 3,191 shares of the insurance provider’s stock valued at $341,000 after purchasing an additional 1,209 shares in the last quarter. Cetera Investment Advisers lifted its position in Loews by 190.6% during the first quarter. Cetera Investment Advisers now owns 28,342 shares of the insurance provider’s stock valued at $3,025,000 after purchasing an additional 18,588 shares during the last quarter. First Trust Advisors LP lifted its position in Loews by 4.3% during the first quarter. First Trust Advisors LP now owns 419,635 shares of the insurance provider’s stock valued at $44,792,000 after purchasing an additional 17,492 shares during the last quarter. Finally, Bellwether Advisors LLC purchased a new position in Loews in the 1st quarter worth approximately $4,413,000. Institutional investors own 58.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Loews from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Loews presently has an average rating of “Buy”.

Loews Trading Up 0.6%

Shares of L stock opened at $118.55 on Tuesday. The business has a 50-day moving average price of $110.90 and a two-hundred day moving average price of $108.76. Loews Corporation has a 12-month low of $89.32 and a 12-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 firm has a market cap of $24.39 billion, a P/E ratio of 15.06 and a beta of 0.52.

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

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews’s dividend payout ratio is currently 3.18%.

Insider Transactions at Loews

In other Loews news, Director Dino Robusto purchased 5,000 shares of Loews stock in a transaction on Friday, May 29th. The shares were acquired at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 19.00% of the stock is currently owned by corporate insiders.

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.