102,768 Shares in Loews Corporation $L Bought by Letson Investment Management Inc.

Letson Investment Management Inc. bought a new stake in shares of Loews Corporation (NYSE:L) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 102,768 shares of the insurance provider’s stock, valued at approximately $10,317,000. Loews makes up approximately 3.7% of Letson Investment Management Inc.’s holdings, making the stock its 7th largest holding.

A number of other large investors have also modified their holdings of L. SJS Investment Consulting Inc. raised its position in shares of Loews by 880.8% in the 3rd quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 229 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in Loews during the 2nd quarter valued at approximately $27,000. NewSquare Capital LLC increased its stake in Loews by 404.1% during the 2nd quarter. NewSquare Capital LLC now owns 368 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 295 shares in the last quarter. MTM Investment Management LLC purchased a new position in shares of Loews in the second quarter worth $41,000. Finally, Hantz Financial Services Inc. lifted its stake in shares of Loews by 14,900.0% during the second quarter. Hantz Financial Services Inc. now owns 450 shares of the insurance provider’s stock worth $41,000 after buying an additional 447 shares during the period. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Loews has an average rating of “Strong Buy”.

Insiders Place Their Bets

In other news, Director Walter L. Harris sold 1,442 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $107.88, for a total transaction of $155,562.96. Following the completion of the transaction, the director directly owned 24,594 shares of the company’s stock, valued at $2,653,200.72. This represents a 5.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Charles M. Diker sold 1,442 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $107.93, for a total value of $155,635.06. Following the transaction, the director owned 21,594 shares in the company, valued at $2,330,640.42. This trade represents a 6.26% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 125,770 shares of company stock valued at $13,325,818. Insiders own 18.70% of the company’s stock.

Loews Stock Down 0.6%

Shares of L stock opened at $104.67 on Monday. Loews Corporation has a twelve month low of $78.98 and a twelve month high of $109.06. The stock has a market cap of $21.63 billion, a P/E ratio of 15.17 and a beta of 0.61. The stock has a 50 day moving average of $104.37 and a 200 day moving average of $98.53. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.44.

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

Loews Announces Dividend

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

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.