AlphaQuest LLC Increases Stock Position in Loews Corporation $L

AlphaQuest LLC raised its stake in shares of Loews Corporation (NYSE:L) by 44.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,545 shares of the insurance provider’s stock after purchasing an additional 10,050 shares during the quarter. AlphaQuest LLC’s holdings in Loews were worth $3,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Loews during the 2nd quarter valued at $665,658,000. Aviva PLC increased its stake in Loews by 1,921.5% in the second quarter. Aviva PLC now owns 138,816 shares of the insurance provider’s stock valued at $12,724,000 after acquiring an additional 131,949 shares during the last quarter. AQR Capital Management LLC raised its position in Loews by 27.5% during the second quarter. AQR Capital Management LLC now owns 592,923 shares of the insurance provider’s stock valued at $53,920,000 after purchasing an additional 127,782 shares in the last quarter. Ossiam lifted its stake in Loews by 2,586.7% during the second quarter. Ossiam now owns 117,597 shares of the insurance provider’s stock worth $10,779,000 after purchasing an additional 113,220 shares during the last quarter. Finally, Letson Investment Management Inc. purchased a new position in shares of Loews in the 3rd quarter worth about $10,317,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling at Loews

In other Loews news, Director Charles M. Diker sold 1,442 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $107.93, for a total value of $155,635.06. Following the completion of the sale, the director owned 21,594 shares in the company, valued at approximately $2,330,640.42. This trade represents a 6.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul J. Fribourg sold 1,442 shares of Loews stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $108.13, for a total value of $155,923.46. Following the completion of the sale, the director owned 400 shares in the company, valued at approximately $43,252. This represents a 78.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 125,770 shares of company stock worth $13,325,818 over the last three months. 19.00% of the stock is owned by corporate insiders.

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 investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Strong Buy”.

Loews Stock Up 1.8%

Shares of NYSE L opened at $104.64 on Friday. 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 52 week low of $78.98 and a 52 week high of $109.06. The firm’s fifty day moving average is $104.90 and its 200 day moving average is $100.11. The company has a market cap of $21.62 billion, a price-to-earnings ratio of 15.17 and a beta of 0.61.

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

Loews Announces Dividend

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

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.