AlphaCore Capital LLC Grows Stake in Loews Corporation $L

AlphaCore Capital LLC raised its stake in Loews Corporation (NYSE:L) by 606.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,236 shares of the insurance provider’s stock after acquiring an additional 6,211 shares during the period. AlphaCore Capital LLC’s holdings in Loews were worth $726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. US Bancorp DE raised its holdings in Loews by 20.5% during the third quarter. US Bancorp DE now owns 9,421 shares of the insurance provider’s stock worth $946,000 after purchasing an additional 1,602 shares in the last quarter. Mufg Securities Americas Inc. boosted its holdings in Loews by 18.9% in the 3rd quarter. Mufg Securities Americas Inc. now owns 4,587 shares of the insurance provider’s stock valued at $460,000 after purchasing an additional 730 shares in the last quarter. AXQ Capital LP increased its position in Loews by 80.5% during the 3rd quarter. AXQ Capital LP now owns 8,164 shares of the insurance provider’s stock worth $820,000 after purchasing an additional 3,642 shares during the period. Compound Planning Inc. raised its stake in shares of Loews by 8.8% during the 3rd quarter. Compound Planning Inc. now owns 5,971 shares of the insurance provider’s stock worth $599,000 after buying an additional 485 shares in the last quarter. Finally, Citigroup Inc. raised its stake in shares of Loews by 7.8% during the 3rd quarter. Citigroup Inc. now owns 199,531 shares of the insurance provider’s stock worth $20,031,000 after buying an additional 14,362 shares in the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Charles M. Diker sold 1,442 shares of the business’s stock in a transaction that occurred on 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 sale, the director directly owned 21,594 shares in the company, valued at approximately $2,330,640.42. The trade was a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann E. Berman sold 1,922 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $110.16, for a total transaction of $211,727.52. Following the transaction, the director directly owned 4,998 shares in the company, valued at approximately $550,579.68. This represents a 27.77% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 181,187 shares of company stock valued at $19,435,041. 19.00% of the stock is currently owned by corporate insiders.

Loews Stock Performance

Shares of NYSE L opened at $109.98 on Friday. The company has a 50-day simple moving average of $106.46 and a 200-day simple moving average of $102.63. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market cap of $22.66 billion, a PE ratio of 13.78 and a beta of 0.61. Loews Corporation has a 12 month low of $78.98 and a 12 month high of $114.90.

Loews (NYSE:L) last posted its quarterly earnings data 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 business had revenue of $4.73 billion for the quarter.

Loews Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a 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 an average rating of “Strong Buy”.

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.