TD Asset Management Inc Has $25.27 Million Stake in Loews Corporation $L

TD Asset Management Inc raised its position in shares of Loews Corporation (NYSE:L) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 239,991 shares of the insurance provider’s stock after buying an additional 9,094 shares during the period. TD Asset Management Inc owned about 0.12% of Loews worth $25,273,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new stake in shares of Loews during the fourth quarter worth approximately $27,000. Harbor Investment Advisory LLC acquired a new stake in shares of Loews during the fourth quarter worth approximately $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Loews in the third quarter valued at approximately $30,000. Private Trust Co. NA increased its holdings in shares of Loews by 896.7% in the fourth quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 269 shares in the last quarter. Finally, Westfuller Advisors LLC bought a new position in Loews in the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Loews has a consensus rating of “Strong Buy”.

Loews Trading Up 0.1%

Shares of NYSE L opened at $107.68 on Monday. The company’s 50 day simple moving average is $107.85 and its 200 day simple moving average is $107.03. Loews Corporation has a fifty-two week low of $86.77 and a fifty-two week high of $114.90. The firm has a market capitalization of $22.16 billion, a P/E ratio of 13.68 and a beta of 0.53. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.36 and a quick ratio of 0.36.

Loews (NYSE:L) last released its earnings results on Monday, May 4th. The insurance provider reported $1.63 EPS for the quarter. The firm had revenue of $4.56 billion during the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. Loews’s payout ratio is 3.18%.

Insiders Place Their Bets

In related news, Director Dino Robusto bought 5,000 shares of Loews stock in a transaction on Friday, May 29th. The shares were purchased at an average price of $104.74 per share, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew H. Tisch sold 50,000 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $108.81, for a total value of $5,440,500.00. Following the transaction, the director owned 12,480,400 shares of the company’s stock, valued at $1,357,992,324. The trade was a 0.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 19.00% of the stock is owned by insiders.

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.