Loews Corporation $L Shares Bought by AlphaCore Capital LLC

AlphaCore Capital LLC grew its holdings in Loews Corporation (NYSE:L) by 606.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,236 shares of the insurance provider’s stock after acquiring an additional 6,211 shares during the period. AlphaCore Capital LLC’s holdings in Loews were worth $726,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. SJS Investment Consulting Inc. raised its position in Loews by 880.8% in the third quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 229 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in shares of Loews in the second quarter worth about $27,000. NewSquare Capital LLC grew its stake in shares of Loews by 404.1% in the second quarter. NewSquare Capital LLC now owns 368 shares of the insurance provider’s stock valued at $34,000 after buying an additional 295 shares in the last quarter. Westside Investment Management Inc. raised its stake in shares of Loews by 100.0% during the third quarter. Westside Investment Management Inc. now owns 370 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 185 shares during the period. Finally, MTM Investment Management LLC acquired a new stake in Loews during the 2nd quarter valued at $41,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director Ann E. Berman sold 1,922 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $110.16, for a total transaction of $211,727.52. Following the completion of the transaction, the director owned 4,998 shares in the company, valued at $550,579.68. The trade was a 27.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Marc A. Alpert sold 3,495 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $109.87, for a total value of $383,995.65. Following the completion of the sale, the vice president directly owned 16,325 shares in the company, valued at $1,793,627.75. This represents a 17.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 181,187 shares of company stock valued at $19,435,041 over the last 90 days. 19.00% of the stock is owned by corporate insiders.

Loews Stock Up 0.5%

NYSE:L opened at $109.98 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a 50-day simple moving average of $106.46 and a 200 day simple moving average of $102.63. Loews Corporation has a one year low of $78.98 and a one year high of $114.90. The company has a market capitalization of $22.66 billion, a price-to-earnings ratio of 13.78 and a beta of 0.61.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, February 9th. The insurance provider reported $1.94 earnings per share for the quarter. Loews had a return on equity of 8.86% and a net margin of 9.03%.The business had revenue of $4.73 billion during the quarter.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th will be paid a dividend of $0.0625 per share. The ex-dividend date is Wednesday, February 25th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews’s dividend payout ratio is 3.13%.

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.