Citigroup Inc. Raises Stake in Loews Corporation $L

Citigroup Inc. boosted its stake in Loews Corporation (NYSE:L) by 7.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 199,531 shares of the insurance provider’s stock after purchasing an additional 14,362 shares during the quarter. Citigroup Inc. owned approximately 0.10% of Loews worth $20,031,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc boosted its position in shares of Loews by 6.9% in the third quarter. Versant Capital Management Inc now owns 1,606 shares of the insurance provider’s stock valued at $161,000 after acquiring an additional 104 shares during the period. Moody Lynn & Lieberson LLC increased its holdings in Loews by 2.9% during the 3rd quarter. Moody Lynn & Lieberson LLC now owns 3,678 shares of the insurance provider’s stock worth $369,000 after acquiring an additional 105 shares during the period. Trustmark Bank Trust Department lifted its stake in Loews by 0.7% in the 2nd quarter. Trustmark Bank Trust Department now owns 16,263 shares of the insurance provider’s stock worth $1,491,000 after purchasing an additional 115 shares in the last quarter. Wedmont Private Capital boosted its holdings in Loews by 3.8% in the 3rd quarter. Wedmont Private Capital now owns 3,291 shares of the insurance provider’s stock valued at $339,000 after purchasing an additional 120 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in shares of Loews by 0.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 25,996 shares of the insurance provider’s stock valued at $2,610,000 after purchasing an additional 120 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued 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 company currently has a consensus rating of “Strong Buy”.

Loews Price Performance

L stock opened at $109.37 on Friday. The stock has a market capitalization of $22.54 billion, a price-to-earnings ratio of 13.71 and a beta of 0.61. The firm’s 50-day moving average price is $106.39 and its two-hundred day moving average price is $102.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. Loews Corporation has a 12-month low of $78.98 and a 12-month high of $114.90.

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

Loews Dividend Announcement

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

Insider Buying and Selling

In other news, Director Ann E. Berman sold 1,922 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $110.16, for a total value of $211,727.52. Following the completion of the sale, the director directly owned 4,998 shares of the company’s stock, valued at approximately $550,579.68. This trade represents a 27.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Paul J. Fribourg sold 1,442 shares of Loews stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $108.13, for a total transaction of $155,923.46. Following the sale, the director directly owned 400 shares in the company, valued at $43,252. The trade was a 78.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 181,187 shares of company stock valued at $19,435,041 over the last three months. Insiders own 19.00% of the company’s stock.

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.