Moran Wealth Management LLC Makes New Investment in Loews Corporation $L

Moran Wealth Management LLC bought a new stake in shares of Loews Corporation (NYSE:L) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 33,601 shares of the insurance provider’s stock, valued at approximately $3,587,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. DV Equities LLC bought a new stake in shares of Loews during the 4th quarter worth approximately $25,000. Harbor Capital Advisors Inc. bought a new position in Loews in the 4th quarter valued at $27,000. Harbor Investment Advisory LLC bought a new position in Loews in the 4th quarter valued at $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in Loews in the third quarter worth $30,000. Finally, Private Trust Co. NA increased its stake in Loews by 896.7% in the fourth quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 269 shares during the period. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Loews Trading Down 0.1%

L opened at $116.46 on Monday. The firm has a market cap of $23.96 billion, a price-to-earnings ratio of 14.80 and a beta of 0.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. Loews Corporation has a 12 month low of $89.32 and a 12 month high of $116.58. The stock has a fifty day moving average price of $108.43 and a 200-day moving average price of $107.71.

Loews (NYSE:L) last released its quarterly earnings results on Monday, May 4th. The insurance provider reported $1.63 EPS for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%. The business had revenue of $4.55 billion during the quarter.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. Loews’s payout ratio is 3.18%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Loews in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Loews presently has an average rating of “Strong Buy”.

Insider Buying and Selling at Loews

In other news, Director Dino Robusto purchased 5,000 shares of the company’s stock in a transaction on Friday, May 29th. The shares were acquired at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the purchase, the director owned 10,235 shares in the company, valued at $1,072,013.90. This trade represents a 95.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.00% of the stock is owned by company insiders.

Loews Company 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.