Walleye Capital LLC Sells 10,973 Shares of Loews Corporation $L

Walleye Capital LLC lowered its holdings in Loews Corporation (NYSE:L) by 29.9% in the 1st quarter, HoldingsChannel reports. The firm owned 25,729 shares of the insurance provider’s stock after selling 10,973 shares during the quarter. Walleye Capital LLC’s holdings in Loews were worth $2,746,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in L. DV Equities LLC purchased a new stake in shares of Loews during the fourth quarter valued at about $25,000. Harbor Capital Advisors Inc. acquired a new position in shares of Loews during the fourth quarter valued at about $27,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new position in shares of Loews in the 3rd quarter valued at $30,000. Private Trust Co. NA raised its stake in Loews by 896.7% in the 4th quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 269 shares during the last quarter. Finally, SHP Wealth Management purchased a new position in Loews in the 4th quarter worth $35,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Loews

In other news, Director Dino Robusto bought 5,000 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was purchased at an average cost of $104.74 per share, with a total value of $523,700.00. Following the acquisition, the director directly 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 legal filing with the SEC, which is accessible through this hyperlink. 19.00% of the stock is currently owned by company insiders.

Loews Stock Performance

NYSE L opened at $115.58 on Friday. The firm has a market capitalization of $23.78 billion, a P/E ratio of 14.69 and a beta of 0.52. Loews Corporation has a fifty-two week low of $89.32 and a fifty-two week high of $119.10. The stock has a 50-day simple moving average of $110.45 and a two-hundred day simple moving average of $108.58. 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 (NYSE:L) last announced its quarterly earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share for the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.The company had revenue of $4.55 billion during the quarter.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were paid 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 dividend payout ratio (DPR) is presently 3.18%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Loews from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “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.