Berger Financial Group Inc Decreases Holdings in Loews Corporation $L

Berger Financial Group Inc reduced its stake in Loews Corporation (NYSE:L) by 95.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,128 shares of the insurance provider’s stock after selling 64,560 shares during the period. Berger Financial Group Inc’s holdings in Loews were worth $334,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Integrated Wealth Concepts LLC raised its holdings in shares of Loews by 22.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider’s stock valued at $329,000 after buying an additional 658 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Loews by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider’s stock worth $2,108,000 after acquiring an additional 2,057 shares during the period. Empowered Funds LLC grew its position in Loews by 12.2% in the first quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock valued at $350,000 after acquiring an additional 414 shares in the last quarter. Woodline Partners LP raised its stake in shares of Loews by 37.5% during the first quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock valued at $1,372,000 after purchasing an additional 4,071 shares during the period. Finally, Cetera Investment Advisers lifted its position in shares of Loews by 53.5% during the second quarter. Cetera Investment Advisers now owns 7,156 shares of the insurance provider’s stock worth $656,000 after purchasing an additional 2,493 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Price Performance

Shares of NYSE L opened at $116.32 on Tuesday. Loews Corporation has a fifty-two week low of $89.32 and a fifty-two week high of $116.70. The business has a 50 day moving average price of $108.51 and a two-hundred day moving average price of $107.80. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46. The firm has a market cap of $23.94 billion, a PE ratio of 14.78 and a beta of 0.52.

Loews (NYSE:L) last announced its earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter. The company had revenue of $4.55 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 declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were issued a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews’s dividend payout ratio is currently 3.18%.

Insider Transactions at Loews

In related 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 purchase, the director directly owned 10,235 shares of the company’s stock, valued at $1,072,013.90. The trade was a 95.51% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated 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, According to data from MarketBeat.com, Loews has a consensus rating of “Strong Buy”.

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.