5,812 Shares in Loews Corporation $L Acquired by Allstate Corp

Allstate Corp acquired a new stake in Loews Corporation (NYSE:L) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,812 shares of the insurance provider’s stock, valued at approximately $583,000.

Other large investors have also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. boosted its position in shares of Loews by 880.8% in the third quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 229 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in Loews in the 2nd quarter worth about $27,000. NewSquare Capital LLC boosted its holdings in Loews by 404.1% in 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 during the period. Hantz Financial Services Inc. grew its position in shares of Loews by 14,900.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 450 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 447 shares in the last quarter. Finally, MTM Investment Management LLC acquired a new position in shares of Loews during the 2nd quarter worth approximately $41,000. Institutional investors own 58.33% of the company’s stock.

Insider Transactions at Loews

In related news, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $105.07, for a total transaction of $5,253,500.00. Following the completion of the sale, the director directly owned 12,909,642 shares in the company, valued at $1,356,416,084.94. This represents a 0.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles M. Diker sold 1,442 shares of Loews stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $107.93, for a total value of $155,635.06. Following the completion of the transaction, the director owned 21,594 shares in the company, valued at approximately $2,330,640.42. This 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 worth $13,325,818. 19.00% of the stock is owned by insiders.

Loews Price Performance

L stock opened at $102.35 on Friday. The company’s 50-day moving average price is $105.10 and its two-hundred day moving average price is $99.70. The firm has a market cap of $21.15 billion, a P/E ratio of 14.83 and a beta of 0.61. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.44. Loews Corporation has a 12 month low of $78.98 and a 12 month 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 announced a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Wednesday, November 26th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, November 26th. Loews’s dividend payout ratio (DPR) is currently 3.62%.

Analyst Upgrades and Downgrades

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

About Loews

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.