Truist Financial Corp Has $1.44 Million Stock Holdings in Loews Corporation $L

Truist Financial Corp lifted its position in shares of Loews Corporation (NYSE:L) by 388.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,331 shares of the insurance provider’s stock after buying an additional 11,396 shares during the quarter. Truist Financial Corp’s holdings in Loews were worth $1,439,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of L. SJS Investment Consulting Inc. increased its position in Loews by 880.8% during the third quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 229 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in Loews in the 2nd quarter valued at about $27,000. NewSquare Capital LLC grew its position in shares of Loews by 404.1% during the 2nd quarter. NewSquare Capital LLC now owns 368 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 295 shares in the last quarter. Hantz Financial Services Inc. increased its holdings 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 purchasing an additional 447 shares during the period. Finally, MTM Investment Management LLC acquired a new stake in shares of Loews in the second quarter valued at approximately $41,000. Institutional investors own 58.33% of the company’s stock.

Insider Transactions at Loews

In other news, Director Charles M. Diker sold 1,442 shares of Loews stock in a transaction 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew H. Tisch sold 50,000 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $105.07, for a total value of $5,253,500.00. Following the transaction, the director directly owned 12,909,642 shares of the company’s stock, valued at $1,356,416,084.94. This trade represents a 0.39% 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. 18.70% of the stock is owned by insiders.

Loews Price Performance

Shares of NYSE:L opened at $111.46 on Monday. The firm has a 50 day moving average of $104.99 and a 200-day moving average of $100.94. Loews Corporation has a 12 month low of $78.98 and a 12 month high of $112.70. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $23.03 billion, a PE ratio of 16.15 and a beta of 0.61.

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 paid a dividend of $0.0625 per share. The ex-dividend date was Wednesday, November 26th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews’s dividend payout ratio is presently 3.62%.

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, Based on data from MarketBeat.com, Loews currently has a consensus rating of “Strong Buy”.

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.