ProShare Advisors LLC boosted its position in shares of Loews Co. (NYSE:L – Free Report) by 4.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,939 shares of the insurance provider’s stock after acquiring an additional 2,753 shares during the period. ProShare Advisors LLC’s holdings in Loews were worth $3,826,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ellevest Inc. boosted its holdings in Loews by 114.2% during the first quarter. Ellevest Inc. now owns 484 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 258 shares in the last quarter. TCI Wealth Advisors Inc. boosted its holdings in shares of Loews by 108.1% in the 1st quarter. TCI Wealth Advisors Inc. now owns 489 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 254 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Loews in the 1st quarter worth approximately $35,000. Eagle Bay Advisors LLC acquired a new position in shares of Loews in the 2nd quarter worth approximately $36,000. Finally, MV Capital Management Inc. boosted its holdings in shares of Loews by 3,461.1% in the 1st quarter. MV Capital Management Inc. now owns 641 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 623 shares in the last quarter. 54.03% of the stock is currently owned by institutional investors.
Insider Activity at Loews
In other news, major shareholder Corp Loews bought 4,456,050 shares of the stock in a transaction on Wednesday, August 2nd. The stock was purchased at an average price of $39.29 per share, for a total transaction of $175,078,204.50. Following the acquisition, the insider now owns 248,414,738 shares in the company, valued at $9,760,215,056.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Paul J. Fribourg sold 561 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $62.56, for a total transaction of $35,096.16. Following the completion of the transaction, the director now directly owns 3,292 shares in the company, valued at approximately $205,947.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Corp Loews acquired 4,456,050 shares of Loews stock in a transaction dated Wednesday, August 2nd. The shares were acquired at an average price of $39.29 per share, with a total value of $175,078,204.50. Following the completion of the purchase, the insider now owns 248,414,738 shares in the company, valued at $9,760,215,056.02. The disclosure for this purchase can be found here. 18.30% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Get Our Latest Analysis on Loews
Loews Stock Up 0.5 %
NYSE:L opened at $64.56 on Tuesday. The stock’s fifty day moving average price is $62.11 and its two-hundred day moving average price is $59.28. Loews Co. has a 52-week low of $49.36 and a 52-week high of $64.82. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.33 and a current ratio of 0.33. The company has a market cap of $14.56 billion, a price-to-earnings ratio of 12.27 and a beta of 0.84.
Loews (NYSE:L – Get Free Report) last issued its earnings results on Monday, July 31st. The insurance provider reported $1.58 EPS for the quarter. The company had revenue of $3.93 billion during the quarter. Loews had a net margin of 8.21% and a return on equity of 8.72%.
Loews Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 29th. Investors of record on Wednesday, August 16th were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend was Tuesday, August 15th. Loews’s dividend payout ratio is currently 4.75%.
Loews Company Profile
Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto and umbrella coverages.
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