AlphaQuest LLC Acquires 10,050 Shares of Loews Corporation $L

AlphaQuest LLC boosted its holdings in shares of Loews Corporation (NYSE:L) by 44.7% in the third quarter, HoldingsChannel reports. The fund owned 32,545 shares of the insurance provider’s stock after acquiring an additional 10,050 shares during the period. AlphaQuest LLC’s holdings in Loews were worth $3,267,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of L. SJS Investment Consulting Inc. increased its stake in shares of Loews by 880.8% during 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 in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Loews in the 2nd quarter worth approximately $27,000. NewSquare Capital LLC grew its stake in shares of Loews by 404.1% in the 2nd quarter. NewSquare Capital LLC now owns 368 shares of the insurance provider’s stock worth $34,000 after buying an additional 295 shares during the last quarter. MTM Investment Management LLC bought a new position in Loews during the 2nd quarter valued at approximately $41,000. Finally, Hantz Financial Services Inc. raised its stake in Loews by 14,900.0% during the second quarter. Hantz Financial Services Inc. now owns 450 shares of the insurance provider’s stock valued at $41,000 after buying an additional 447 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

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

Loews Price Performance

Shares of L opened at $104.64 on Friday. Loews Corporation has a twelve month low of $78.98 and a twelve month high of $109.06. The company has a market capitalization of $21.62 billion, a P/E ratio of 15.17 and a beta of 0.61. The firm has a 50 day moving average of $104.90 and a 200 day moving average of $100.11. 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 (NYSE:L) last released its quarterly earnings data on Monday, November 3rd. The insurance provider reported $2.43 earnings per share (EPS) for the quarter. The business had revenue of $4.67 billion for the quarter. Loews had a return on equity of 7.89% and a net margin of 7.95%.

Loews Dividend Announcement

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

Insider Buying and Selling

In other news, Director Walter L. Harris sold 1,442 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $107.88, for a total transaction of $155,562.96. Following the sale, the director owned 24,594 shares of the company’s stock, valued at $2,653,200.72. This trade represents a 5.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Andrew H. Tisch sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $105.07, for a total transaction of $5,253,500.00. Following the transaction, the director directly owned 12,909,642 shares of the company’s stock, valued at $1,356,416,084.94. The trade was a 0.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 125,770 shares of company stock worth $13,325,818 in the last three months. 19.00% of the stock is currently owned by company insiders.

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.