Truist Financial Corp Has $1.44 Million Stock Holdings in Loews Corporation $L

Truist Financial Corp boosted its stake in Loews Corporation (NYSE:L) by 388.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,331 shares of the insurance provider’s stock after purchasing an additional 11,396 shares during the period. Truist Financial Corp’s holdings in Loews were worth $1,439,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in L. J. Safra Sarasin Holding AG bought a new stake in shares of Loews during the third quarter worth $1,339,000. OneAscent Financial Services LLC acquired a new stake in shares of Loews during the 3rd quarter valued at $239,000. CIBC Asset Management Inc grew its position in Loews by 1.8% during the 3rd quarter. CIBC Asset Management Inc now owns 123,761 shares of the insurance provider’s stock worth $12,412,000 after acquiring an additional 2,138 shares during the last quarter. FSB Premier Wealth Management Inc. bought a new stake in Loews during the 3rd quarter worth $319,000. Finally, UniSuper Management Pty Ltd increased its holdings in Loews by 10.0% in the 3rd quarter. UniSuper Management Pty Ltd now owns 27,222 shares of the insurance provider’s stock worth $2,733,000 after purchasing an additional 2,480 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Stock Up 0.5%

Shares of NYSE:L opened at $111.46 on Monday. The firm has a market cap of $23.03 billion, a P/E ratio of 16.15 and a beta of 0.61. Loews Corporation has a 12-month low of $78.98 and a 12-month high of $112.70. The business has a fifty day simple moving average of $104.99 and a 200 day simple moving average of $100.94. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.44.

Loews Announces Dividend

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

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, Director Ann E. Berman sold 1,444 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $108.10, for a total value of $156,096.40. Following the transaction, the director owned 6,686 shares in the company, valued at approximately $722,756.60. The trade was a 17.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles M. Diker sold 1,442 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $107.93, for a total transaction of $155,635.06. Following the completion of the sale, the director directly owned 21,594 shares in the company, valued at approximately $2,330,640.42. This represents a 6.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 125,770 shares of company stock valued at $13,325,818 over the last 90 days. 18.70% of the stock is currently owned by corporate insiders.

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.