Permanent Capital Management LP Takes Position in Loews Corporation $L

Permanent Capital Management LP acquired a new stake in Loews Corporation (NYSE:L) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 15,445 shares of the insurance provider’s stock, valued at approximately $1,551,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sowell Financial Services LLC bought a new stake in shares of Loews in the third quarter worth about $232,000. Apollon Wealth Management LLC lifted its holdings in shares of Loews by 20.2% during the 3rd quarter. Apollon Wealth Management LLC now owns 2,696 shares of the insurance provider’s stock valued at $271,000 after purchasing an additional 453 shares in the last quarter. Regent Peak Wealth Advisors LLC acquired a new position in shares of Loews in the 3rd quarter valued at approximately $272,000. CWM LLC increased its stake in Loews by 53.2% during the 3rd quarter. CWM LLC now owns 8,640 shares of the insurance provider’s stock worth $867,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Whitener Capital Management Inc. bought a new stake in Loews during the 3rd quarter worth approximately $328,000. 58.33% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Charles M. Diker sold 1,442 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $107.93, for a total transaction of $155,635.06. Following the completion of the transaction, the director directly owned 21,594 shares in the company, valued at $2,330,640.42. This represents a 6.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ann E. Berman sold 1,444 shares of Loews stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $108.10, for a total value of $156,096.40. Following the completion of the sale, the director directly owned 6,686 shares in the company, valued at approximately $722,756.60. This represents a 17.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 125,770 shares of company stock worth $13,325,818. 18.70% of the stock is currently owned by company insiders.

Loews Stock Down 0.9%

Shares of Loews stock opened at $106.40 on Monday. The firm has a market cap of $21.99 billion, a PE ratio of 15.42 and a beta of 0.61. The business’s 50 day simple moving average is $103.79 and its 200 day simple moving average is $97.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.35 and a current ratio of 0.35. Loews Corporation has a 52-week low of $78.98 and a 52-week high of $109.06.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, November 3rd. The insurance provider reported $2.43 earnings per share for the quarter. The company had revenue of $4.67 billion during the quarter. Loews had a net margin of 7.95% and a return on equity of 7.89%.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Wednesday, November 26th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date was Wednesday, November 26th. Loews’s payout ratio is presently 3.62%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Strong Buy”.

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.