Compass Financial Management LLC Invests $1.65 Million in Loews Corporation $L

Compass Financial Management LLC acquired a new stake in shares of Loews Corporation (NYSE:L) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 14,608 shares of the insurance provider’s stock, valued at approximately $1,654,000.

A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Loews during the 2nd quarter worth $1,621,369,000. Norges Bank purchased a new stake in Loews in the fourth quarter valued at about $577,279,000. Great Lakes Advisors LLC acquired a new stake in Loews in the second quarter worth about $184,377,000. Bank of New York Mellon Corp acquired a new stake in Loews in the second quarter worth about $107,461,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Loews by 32.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,237,922 shares of the insurance provider’s stock worth $340,986,000 after acquiring an additional 786,381 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Trading Down 0.8%

NYSE:L opened at $109.85 on Friday. Loews Corporation has a 12 month low of $95.10 and a 12 month high of $121.01. The firm has a fifty day simple moving average of $113.74 and a 200-day simple moving average of $110.18. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $22.46 billion, a P/E ratio of 13.46 and a beta of 0.52.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, August 3rd. The insurance provider reported $2.16 earnings per share for the quarter. Loews had a net margin of 9.02% and a return on equity of 8.60%. The firm had revenue of $4.73 billion for the quarter.

Loews Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Dino Robusto purchased 5,000 shares of the company’s stock in a transaction on Friday, May 29th. The shares were acquired at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the purchase, the director 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 19.00% of the company’s stock.

Analyst Ratings Changes

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

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.