Permanent Capital Management LP Makes New Investment in Loews Corporation $L

Permanent Capital Management LP acquired a new stake in Loews Corporation (NYSE:L) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 15,445 shares of the insurance provider’s stock, valued at approximately $1,551,000.

A number of other institutional investors and hedge funds also recently modified their holdings of L. Jane Street Group LLC lifted its position in shares of Loews by 218.1% in the first quarter. Jane Street Group LLC now owns 142,050 shares of the insurance provider’s stock valued at $13,056,000 after buying an additional 97,391 shares during the last quarter. Assetmark Inc. raised its stake in Loews by 182.2% in the 2nd quarter. Assetmark Inc. now owns 1,967 shares of the insurance provider’s stock valued at $180,000 after acquiring an additional 1,270 shares during the period. Advisory Alpha LLC acquired a new stake in Loews during the 1st quarter valued at $284,000. Swedbank AB boosted its position in 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 period. Finally, BNP Paribas Financial Markets increased its holdings in shares of Loews by 11.5% in the first quarter. BNP Paribas Financial Markets now owns 428,858 shares of the insurance provider’s stock valued at $39,416,000 after purchasing an additional 44,399 shares during the last quarter. 58.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

Loews Stock Performance

L opened at $106.40 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.35 and a quick ratio of 0.35. The business has a fifty day simple moving average of $103.79 and a 200 day simple moving average of $97.94. Loews Corporation has a 1 year low of $78.98 and a 1 year high of $109.06. The company has a market capitalization of $21.99 billion, a PE ratio of 15.42 and a beta of 0.61.

Loews (NYSE:L) last posted its earnings results on Monday, November 3rd. The insurance provider reported $2.43 earnings per share for the quarter. The company had revenue of $4.67 billion during the quarter. Loews had a return on equity of 7.89% and a net margin of 7.95%.

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Wednesday, November 26th were paid a $0.0625 dividend. The ex-dividend date was Wednesday, November 26th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews’s payout ratio is 3.62%.

Insider Transactions at Loews

In other news, Director Walter L. Harris sold 1,442 shares of Loews stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $107.88, for a total value of $155,562.96. Following the completion of the sale, the director directly owned 24,594 shares in the company, valued at approximately $2,653,200.72. The trade was a 5.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann E. Berman sold 1,444 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $108.10, for a total value of $156,096.40. Following the sale, the director directly owned 6,686 shares in the company, valued at $722,756.60. This represents a 17.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 125,770 shares of company stock worth $13,325,818. Company insiders own 18.70% of the company’s stock.

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.