Loews Corporation $L Shares Purchased by AXQ Capital LP

AXQ Capital LP boosted its holdings in Loews Corporation (NYSE:L) by 83.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,980 shares of the insurance provider’s stock after buying an additional 6,816 shares during the period. AXQ Capital LP’s holdings in Loews were worth $1,578,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new stake in Loews in the 4th quarter worth about $27,000. Harbor Investment Advisory LLC acquired a new stake in Loews in the 4th quarter worth about $30,000. Private Trust Co. NA boosted its stake in Loews by 896.7% in the 4th quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock worth $31,000 after buying an additional 269 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in Loews in the 3rd quarter worth about $30,000. Finally, Westfuller Advisors LLC acquired a new stake in Loews in the 4th quarter worth about $36,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Loews currently has an average rating of “Strong Buy”.

Loews Stock Performance

NYSE L opened at $103.89 on Tuesday. The firm has a market capitalization of $21.38 billion, a P/E ratio of 13.20 and a beta of 0.53. Loews Corporation has a 1-year low of $86.77 and a 1-year high of $114.90. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.36 and a quick ratio of 0.36. The business’s 50-day simple moving average is $107.91 and its 200-day simple moving average is $106.99.

Loews (NYSE:L) last released its quarterly earnings data on Monday, May 4th. The insurance provider reported $1.63 earnings per share for the quarter. The business had revenue of $4.56 billion for the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Wednesday, May 27th. Loews’s dividend payout ratio (DPR) is presently 3.18%.

Insider Activity

In related news, Director Dino Robusto bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the acquisition, the director owned 10,235 shares in the company, valued at $1,072,013.90. This represents a 95.51% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $5,440,500.00. Following the sale, the director owned 12,480,400 shares in the company, valued at approximately $1,357,992,324. The trade was a 0.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company 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.