Aigen Investment Management LP Makes New Investment in Loews Corporation $L

Aigen Investment Management LP acquired a new stake in shares of Loews Corporation (NYSE:L) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 4,977 shares of the insurance provider’s stock, valued at approximately $524,000.

A number of other institutional investors have also recently added to or reduced their stakes in L. Atlas Capital Advisors Inc. acquired a new stake in shares of Loews in the 4th quarter valued at about $261,000. The Manufacturers Life Insurance Company lifted its position in shares of Loews by 2.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 255,426 shares of the insurance provider’s stock valued at $27,038,000 after acquiring an additional 5,844 shares in the last quarter. Boyar Asset Management Inc. lifted its position in shares of Loews by 23.0% in the 4th quarter. Boyar Asset Management Inc. now owns 4,656 shares of the insurance provider’s stock valued at $490,000 after acquiring an additional 871 shares in the last quarter. Stifel Financial Corp increased its stake in Loews by 92.2% in the 4th quarter. Stifel Financial Corp now owns 13,901 shares of the insurance provider’s stock valued at $1,464,000 after buying an additional 6,668 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of Loews by 8.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 13,039 shares of the insurance provider’s stock worth $1,385,000 after purchasing an additional 1,038 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Stock Up 0.1%

Shares of NYSE L opened at $108.25 on Tuesday. The firm has a 50 day moving average price of $108.00 and a 200 day moving average price of $107.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.36. Loews Corporation has a 52-week low of $87.83 and a 52-week high of $114.90. The stock has a market cap of $22.27 billion, a P/E ratio of 13.75 and a beta of 0.53.

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

Loews Dividend Announcement

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

Insider Transactions at Loews

In other news, Director Dino Robusto acquired 5,000 shares of Loews stock in a transaction on Friday, May 29th. The shares were purchased at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the purchase, the director directly owned 10,235 shares of the company’s stock, valued at approximately $1,072,013.90. This represents a 95.51% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 19.00% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Strong Buy”.

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.