8,863 Shares in Loews Corporation $L Bought by Centiva Capital LP

Centiva Capital LP bought a new stake in Loews Corporation (NYSE:L) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 8,863 shares of the insurance provider’s stock, valued at approximately $890,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. raised its holdings in shares of Loews by 880.8% in the 3rd quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 229 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in shares of Loews in the 2nd quarter valued at about $27,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in shares of Loews during the 3rd quarter worth about $30,000. Westside Investment Management Inc. increased its position in Loews by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 370 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 185 shares in the last quarter. Finally, MTM Investment Management LLC acquired a new stake in Loews during the 2nd quarter worth approximately $41,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Ann E. Berman sold 1,922 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $110.16, for a total transaction of $211,727.52. Following the completion of the sale, the director directly owned 4,998 shares in the company, valued at $550,579.68. This trade represents a 27.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Marc A. Alpert sold 3,495 shares of Loews stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $109.87, for a total value of $383,995.65. Following the sale, the vice president directly owned 16,325 shares in the company, valued at approximately $1,793,627.75. The trade was a 17.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 105,417 shares of company stock worth $11,549,723 over the last ninety days. Corporate insiders own 18.70% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company currently has an average rating of “Strong Buy”.

Loews Trading Down 0.4%

NYSE L opened at $108.02 on Monday. The company’s fifty day simple moving average is $107.14 and its 200-day simple moving average is $103.73. Loews Corporation has a 52 week low of $78.98 and a 52 week high of $114.90. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. The stock has a market cap of $22.26 billion, a P/E ratio of 13.54 and a beta of 0.60.

Loews (NYSE:L) last released its quarterly earnings results on Monday, February 9th. The insurance provider reported $1.94 earnings per share for the quarter. Loews had a net margin of 9.03% and a return on equity of 8.86%. The business had revenue of $4.73 billion during the quarter.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, February 25th. Loews’s dividend payout ratio is presently 3.13%.

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.