Insider Buying: Loews (NYSE:L) Director Acquires 5,000 Shares of Stock

Loews Corporation (NYSE:L) Director Dino Robusto purchased 5,000 shares of the stock in a transaction on Friday, May 29th. The shares were bought at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the acquisition, the director owned 10,235 shares of the company’s stock, valued at approximately $1,072,013.90. The trade was a 95.51% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Loews Stock Performance

Shares of NYSE:L traded up $1.01 during midday trading on Monday, hitting $104.56. The company’s stock had a trading volume of 142,612 shares, compared to its average volume of 735,655. The stock’s 50 day simple moving average is $107.95 and its 200 day simple moving average is $106.99. The stock has a market capitalization of $21.52 billion, a price-to-earnings ratio of 13.29 and a beta of 0.53. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.36. Loews Corporation has a fifty-two week low of $86.77 and a fifty-two week high of $114.90.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, May 4th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter. The business had revenue of $4.56 billion for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews’s dividend payout ratio (DPR) is 3.18%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

Institutional Investors Weigh In On Loews

Several institutional investors and hedge funds have recently made changes to their positions in L. Integrated Wealth Concepts LLC boosted its holdings in shares of Loews by 22.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider’s stock worth $329,000 after acquiring an additional 658 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Loews by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider’s stock worth $2,108,000 after acquiring an additional 2,057 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Loews by 12.2% in the 1st quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock worth $350,000 after acquiring an additional 414 shares in the last quarter. Woodline Partners LP boosted its holdings in shares of Loews by 37.5% in the 1st quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock worth $1,372,000 after acquiring an additional 4,071 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in Loews by 53.5% during the 2nd quarter. Cetera Investment Advisers now owns 7,156 shares of the insurance provider’s stock worth $656,000 after buying an additional 2,493 shares in the last quarter. Institutional investors and hedge funds own 58.33% 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.