Loews Corporation $L Stake Decreased by Pacer Advisors Inc.

Pacer Advisors Inc. cut its holdings in shares of Loews Corporation (NYSE:L) by 33.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,030 shares of the insurance provider’s stock after selling 8,906 shares during the period. Pacer Advisors Inc.’s holdings in Loews were worth $1,925,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in L. NewEdge Advisors LLC increased its holdings in shares of Loews by 2.3% during the 1st quarter. NewEdge Advisors LLC now owns 4,168 shares of the insurance provider’s stock worth $445,000 after purchasing an additional 95 shares during the period. Lido Advisors LLC lifted its stake in shares of Loews by 3.9% in the first quarter. Lido Advisors LLC now owns 2,594 shares of the insurance provider’s stock valued at $277,000 after buying an additional 97 shares during the period. Hancock Whitney Corp grew its position in Loews by 3.9% during the third quarter. Hancock Whitney Corp now owns 2,618 shares of the insurance provider’s stock worth $263,000 after buying an additional 98 shares in the last quarter. IFM Investors Pty Ltd grew its position in Loews by 0.3% during the fourth quarter. IFM Investors Pty Ltd now owns 31,867 shares of the insurance provider’s stock worth $3,356,000 after buying an additional 100 shares in the last quarter. Finally, Independent Advisor Alliance increased its stake in Loews by 4.3% during the fourth quarter. Independent Advisor Alliance now owns 2,603 shares of the insurance provider’s stock valued at $274,000 after acquiring an additional 107 shares during the period. 58.33% of the stock is owned by institutional investors.

Insider Buying and Selling at Loews

In other news, Director Dino Robusto acquired 5,000 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was bought at an average price of $104.74 per share, with a total value of $523,700.00. Following the completion of the acquisition, the director owned 10,235 shares in the company, valued at approximately $1,072,013.90. This represents a 95.51% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 19.00% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Strong Buy”.

Loews Stock Performance

Shares of NYSE:L opened at $115.48 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.36 and a quick ratio of 0.36. The business’s fifty day moving average price is $112.54 and its two-hundred day moving average price is $109.53. Loews Corporation has a fifty-two week low of $93.25 and a fifty-two week high of $121.01. The stock has a market capitalization of $23.61 billion, a price-to-earnings ratio of 14.15 and a beta of 0.52.

Loews (NYSE:L) last issued its earnings results on Monday, August 3rd. The insurance provider reported $2.16 EPS for the quarter. Loews had a net margin of 9.02% and a return on equity of 8.60%. The company had revenue of $4.73 billion for the quarter.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Loews’s dividend payout ratio is currently 3.06%.

About Loews

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.