Almanack Investment Partners LLC. Invests $110,000 in Loews Co. (NYSE:L)

Posted by Defense World Staff on Mar 15th, 2023

Almanack Investment Partners LLC. bought a new position in Loews Co. (NYSE:L – Get Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,162 shares of the insurance provider’s stock, valued at approximately $110,000.

Several other hedge funds and other institutional investors have also modified their holdings of L. Raymond James & Associates boosted its holdings in shares of Loews by 9.5% in the 1st quarter. Raymond James & Associates now owns 59,878 shares of the insurance provider’s stock valued at $3,881,000 after buying an additional 5,176 shares during the period. American Century Companies Inc. boosted its stake in Loews by 15.6% during the 1st quarter. American Century Companies Inc. now owns 19,679 shares of the insurance provider’s stock valued at $1,275,000 after purchasing an additional 2,655 shares during the period. MetLife Investment Management LLC boosted its stake in Loews by 21.1% during the 1st quarter. MetLife Investment Management LLC now owns 53,610 shares of the insurance provider’s stock valued at $3,475,000 after purchasing an additional 9,333 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Loews by 4.3% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,236 shares of the insurance provider’s stock worth $1,701,000 after acquiring an additional 1,081 shares during the period. Finally, Vontobel Holding Ltd. lifted its stake in shares of Loews by 6.5% in the 1st quarter. Vontobel Holding Ltd. now owns 4,934 shares of the insurance provider’s stock worth $323,000 after acquiring an additional 300 shares during the period. 64.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, TheStreet raised shares of Loews from a “c+” rating to a “b-” rating in a research note on Wednesday, November 23rd.

Loews Trading Up 1.3 %

Shares of NYSE:L opened at $56.28 on Wednesday. The company has a 50 day moving average of $60.31 and a 200-day moving average of $57.13. The firm has a market cap of $13.23 billion, a P/E ratio of 13.53 and a beta of 0.83. Loews Co. has a twelve month low of $49.36 and a twelve month high of $68.20. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.53.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 7th. Investors of record on Wednesday, February 22nd were issued a $0.0625 dividend. The ex-dividend date of this dividend was Tuesday, February 21st. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.44%. Loews’s payout ratio is currently 6.01%.

Insider Buying and Selling

In related news, Director Philip A. Laskawy sold 625 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $60.96, for a total value of $38,100.00. Following the sale, the director now directly owns 7,365 shares in the company, valued at approximately $448,970.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Loews news, insider Jonathan M. Tisch sold 3,791 shares of Loews stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $61.73, for a total transaction of $234,018.43. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Philip A. Laskawy sold 625 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $60.96, for a total value of $38,100.00. Following the completion of the sale, the director now directly owns 7,365 shares of the company’s stock, valued at approximately $448,970.40. The disclosure for this sale can be found here. Insiders have sold 35,676 shares of company stock worth $2,166,036 in the last ninety days. 17.50% of the stock is currently owned by corporate insiders.

About Loews

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Loews Corp. is a holding company, which engages in the business of commercial property and casualty insurance, transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. It operates through the following segments: CNA Financial Corporation, Boardwalk Pipeline Partners, LP and Loews Hotels Holding Corporation, and Corporate.

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Institutional Ownership by Quarter for Loews (NYSE:L)

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