Groupama Asset Managment Invests $1.72 Million in Loews Corporation $L

Groupama Asset Managment purchased a new stake in shares of Loews Corporation (NYSE:L) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 17,162 shares of the insurance provider’s stock, valued at approximately $1,723,000.

Other large investors have also recently modified their holdings of the company. SJS Investment Consulting Inc. grew its position in Loews by 880.8% during the 3rd quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 229 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new position in Loews in the second quarter worth about $27,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in Loews in the third quarter worth about $30,000. Westside Investment Management Inc. lifted its stake in shares of Loews by 100.0% in the third quarter. Westside Investment Management Inc. now owns 370 shares of the insurance provider’s stock worth $37,000 after buying an additional 185 shares in the last quarter. Finally, CYBER HORNET ETFs LLC bought a new position in shares of Loews in the second quarter worth approximately $44,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Trading Down 0.5%

Loews stock opened at $105.65 on Friday. Loews Corporation has a one year low of $78.98 and a one year high of $114.90. The business’s fifty day moving average is $107.29 and its 200 day moving average is $103.92. The stock has a market capitalization of $21.77 billion, a PE ratio of 13.24 and a beta of 0.60. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.36 and a quick ratio of 0.36.

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

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th were 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 of this dividend was Wednesday, February 25th. Loews’s payout ratio is presently 3.13%.

Insider Activity

In other Loews news, Director Ann E. Berman sold 1,922 shares of Loews stock in a transaction that occurred on 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 owned 4,998 shares of the company’s stock, valued at approximately $550,579.68. The trade was a 27.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Marc A. Alpert sold 3,495 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $109.87, for a total transaction of $383,995.65. Following the sale, the vice president 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 disclosure for this sale is available in the SEC filing. Insiders sold 105,417 shares of company stock valued at $11,549,723 over the last three months. Insiders own 19.00% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Loews presently has an average rating of “Strong Buy”.

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.