Cibc World Market Inc. Acquires 20,067 Shares of Loews Corporation $L

Cibc World Market Inc. raised its holdings in shares of Loews Corporation (NYSE:L) by 448.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,540 shares of the insurance provider’s stock after acquiring an additional 20,067 shares during the quarter. Cibc World Market Inc.’s holdings in Loews were worth $2,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

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

Loews Stock Performance

NYSE L opened at $108.70 on Monday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.43. Loews Corporation has a twelve month low of $78.98 and a twelve month high of $114.90. The business has a 50-day moving average price of $105.47 and a 200-day moving average price of $101.61. The firm has a market cap of $22.40 billion, a price-to-earnings ratio of 13.62 and a beta of 0.61.

Loews (NYSE:L) last issued its earnings results on Monday, February 9th. The insurance provider reported $1.94 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.86% and a net margin of 9.03%.The company had revenue of $4.73 billion for the quarter.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, February 25th. Loews’s payout ratio is 3.13%.

Insider Activity

In other Loews news, VP Marc A. Alpert sold 3,495 shares of Loews stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $109.87, for a total value of $383,995.65. Following the sale, the vice president directly owned 16,325 shares in the company, valued at approximately $1,793,627.75. The trade was a 17.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles M. Diker sold 1,442 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $107.93, for a total transaction 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. The trade was a 6.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 131,187 shares of company stock valued at $13,921,541 in the last quarter. Company insiders own 18.70% of the company’s stock.

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.