Daymark Wealth Partners LLC Makes New $571,000 Investment in Loews Corporation $L

Daymark Wealth Partners LLC purchased a new position in Loews Corporation (NYSE:L) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,426 shares of the insurance provider’s stock, valued at approximately $571,000.

A number of other large investors also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Loews during the second quarter valued at about $665,658,000. Invesco Ltd. grew its position in Loews by 0.4% in the 3rd quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider’s stock valued at $337,698,000 after buying an additional 12,311 shares in the last quarter. Legal & General Group Plc increased its stake in Loews by 0.4% during the 3rd quarter. Legal & General Group Plc now owns 1,340,867 shares of the insurance provider’s stock valued at $134,610,000 after buying an additional 4,792 shares during the period. California State Teachers Retirement System increased its stake in Loews by 12.1% during the 3rd quarter. California State Teachers Retirement System now owns 777,030 shares of the insurance provider’s stock valued at $78,006,000 after buying an additional 83,669 shares during the period. Finally, Hsbc Holdings PLC raised its position in shares of Loews by 0.7% during the 2nd quarter. Hsbc Holdings PLC now owns 728,940 shares of the insurance provider’s stock worth $66,761,000 after buying an additional 4,750 shares in the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Loews in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company has a consensus rating of “Strong Buy”.

Loews Stock Up 0.4%

L opened at $106.77 on Friday. Loews Corporation has a one year low of $78.98 and a one year high of $114.90. 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’s fifty day moving average is $107.56 and its 200-day moving average is $104.26. The company has a market capitalization of $22.00 billion, a PE ratio of 13.38 and a beta of 0.60.

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

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, February 25th. Loews’s dividend payout ratio is presently 3.13%.

Insider Activity

In other news, Director Andrew H. Tisch sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $108.81, for a total transaction of $5,440,500.00. Following the completion of the transaction, the director owned 12,480,400 shares in the company, valued at approximately $1,357,992,324. This trade represents a 0.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Marc A. Alpert sold 3,495 shares of Loews stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $109.87, for a total transaction of $383,995.65. Following the completion of the transaction, 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 position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 105,417 shares of company stock worth $11,549,723. Corporate insiders own 19.00% 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.