Centiva Capital LP Invests $890,000 in Loews Corporation $L

Centiva Capital LP purchased a new position in Loews Corporation (NYSE:L) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,863 shares of the insurance provider’s stock, valued at approximately $890,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. CPC Advisors LLC bought a new stake in shares of Loews in the 3rd quarter worth about $6,568,000. Swedbank AB lifted its position in shares of Loews by 9.7% during the third quarter. Swedbank AB now owns 443,106 shares of the insurance provider’s stock worth $44,483,000 after purchasing an additional 39,313 shares during the last quarter. Cibc World Market Inc. grew its stake in Loews by 448.6% in the third quarter. Cibc World Market Inc. now owns 24,540 shares of the insurance provider’s stock worth $2,464,000 after purchasing an additional 20,067 shares in the last quarter. Caprock Group LLC acquired a new position in Loews in the third quarter worth about $2,748,000. Finally, Truist Financial Corp increased its holdings in Loews by 388.3% in the third quarter. Truist Financial Corp now owns 14,331 shares of the insurance provider’s stock valued at $1,439,000 after buying an additional 11,396 shares during the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Loews

In other news, VP Marc A. Alpert sold 3,495 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $109.87, for a total transaction of $383,995.65. Following the completion of the transaction, the vice president directly owned 16,325 shares of the company’s stock, valued at approximately $1,793,627.75. This represents a 17.63% 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 value of $211,727.52. Following the sale, the director owned 4,998 shares in the company, valued at $550,579.68. The trade was a 27.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 105,417 shares of company stock worth $11,549,723 over the last ninety days. Company insiders own 18.70% of the company’s stock.

Loews Stock Down 0.4%

Shares of NYSE:L opened at $108.02 on Monday. The company’s fifty day moving average is $107.14 and its two-hundred day moving average is $103.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 0.36. Loews Corporation has a 1-year low of $78.98 and a 1-year high of $114.90. The stock has a market capitalization of $22.26 billion, a price-to-earnings ratio of 13.54 and a beta of 0.60.

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

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Wednesday, February 25th. Loews’s payout ratio is presently 3.13%.

Analyst Upgrades and Downgrades

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, Based on data from MarketBeat.com, the company presently has a consensus 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.