Group One Trading L.P. Purchases 5,231 Shares of Loews Co. (NYSE:L)

Posted by Defense World Staff on May 25th, 2023

Group One Trading L.P. increased its position in Loews Co. (NYSE:L – Get Rating) by 2,615.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,431 shares of the insurance provider’s stock after acquiring an additional 5,231 shares during the quarter. Group One Trading L.P.’s holdings in Loews were worth $317,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. AMF Tjanstepension AB bought a new stake in Loews during the fourth quarter valued at approximately $26,333,000. National Pension Service lifted its position in Loews by 2,042.1% during the first quarter. National Pension Service now owns 385,399 shares of the insurance provider’s stock valued at $24,982,000 after purchasing an additional 367,407 shares during the last quarter. Renaissance Technologies LLC lifted its position in Loews by 495.4% during the first quarter. Renaissance Technologies LLC now owns 285,200 shares of the insurance provider’s stock valued at $18,487,000 after purchasing an additional 237,300 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in Loews by 83.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 507,005 shares of the insurance provider’s stock valued at $29,574,000 after purchasing an additional 231,291 shares during the last quarter. Finally, PGGM Investments bought a new stake in Loews during the third quarter valued at approximately $10,895,000. 64.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Loews in a report on Thursday, May 18th. They issued a “buy” rating for the company.

Insider Buying and Selling at Loews

In other Loews news, Director Philip A. Laskawy sold 625 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $60.96, for a total transaction of $38,100.00. Following the transaction, the director now directly owns 7,365 shares of the company’s stock, valued at approximately $448,970.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Loews news, major shareholder Corp Loews bought 4,800 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were purchased at an average price of $39.79 per share, for a total transaction of $190,992.00. Following the acquisition, the insider now owns 243,958,688 shares in the company, valued at approximately $9,707,116,195.52. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Philip A. Laskawy sold 625 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $60.96, for a total transaction of $38,100.00. Following the sale, the director now owns 7,365 shares in the company, valued at approximately $448,970.40. The disclosure for this sale can be found here. Insiders own 18.30% of the company’s stock.

Loews Trading Down 1.3 %

Shares of L opened at $57.17 on Thursday. The firm has a market cap of $13.03 billion, a price-to-earnings ratio of 12.96 and a beta of 0.82. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.32 and a current ratio of 0.32. Loews Co. has a fifty-two week low of $49.36 and a fifty-two week high of $66.34. The firm has a 50 day moving average price of $57.09 and a 200-day moving average price of $58.12.

Loews (NYSE:L – Get Rating) last announced its quarterly earnings data on Monday, May 1st. The insurance provider reported $1.61 earnings per share for the quarter. The firm had revenue of $3.78 billion during the quarter. Loews had a net margin of 7.27% and a return on equity of 7.68%.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Wednesday, May 24th will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Tuesday, May 23rd. Loews’s payout ratio is currently 5.67%.

Loews Company Profile

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Loews Corp. is a holding company, which engages in the business of commercial property and casualty insurance, transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. It operates through the following segments: CNA Financial Corporation, Boardwalk Pipeline Partners, LP and Loews Hotels Holding Corporation, and Corporate.