TD Asset Management Inc Purchases 9,094 Shares of Loews Corporation $L

TD Asset Management Inc grew its position in Loews Corporation (NYSE:L) by 3.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 239,991 shares of the insurance provider’s stock after acquiring an additional 9,094 shares during the period. TD Asset Management Inc’s holdings in Loews were worth $25,273,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in L. Harbor Capital Advisors Inc. bought a new position in Loews during the fourth quarter worth about $27,000. Harbor Investment Advisory LLC bought a new stake in shares of Loews in the fourth quarter worth about $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in shares of Loews in the third quarter worth about $30,000. Private Trust Co. NA raised its position in shares of Loews by 896.7% during the fourth quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 269 shares during the period. Finally, Westfuller Advisors LLC acquired a new stake in shares of Loews during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Transactions at Loews

In other news, Director Dino Robusto acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was acquired at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the acquisition, the director owned 10,235 shares in the company, valued at $1,072,013.90. This represents a 95.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $108.81, for a total value of $5,440,500.00. Following the completion of the sale, the director directly owned 12,480,400 shares in the company, valued at approximately $1,357,992,324. This represents a 0.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 19.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Loews Trading Up 0.1%

Shares of NYSE:L opened at $107.68 on Monday. The firm has a market cap of $22.16 billion, a price-to-earnings ratio of 13.68 and a beta of 0.53. Loews Corporation has a 12 month low of $86.77 and a 12 month high of $114.90. The company’s fifty day simple moving average is $107.85 and its 200 day simple moving average is $107.03. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46.

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

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th will be given 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 is Wednesday, May 27th. Loews’s dividend payout ratio is currently 3.18%.

About Loews

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.