5,861 Shares in Loews Corporation $L Purchased by North Dakota State Investment Board

North Dakota State Investment Board bought a new position in shares of Loews Corporation (NYSE:L) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,861 shares of the insurance provider’s stock, valued at approximately $617,000.

Other institutional investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Loews during the fourth quarter worth about $27,000. Harbor Investment Advisory LLC purchased a new stake in shares of Loews during the fourth quarter worth about $30,000. Private Trust Co. NA grew its position in shares of Loews by 896.7% during the fourth quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 269 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in shares of Loews during the third quarter worth about $30,000. Finally, Westfuller Advisors LLC purchased a new stake in shares of Loews during the fourth quarter worth about $36,000. Hedge funds and other institutional investors 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 research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Strong Buy”.

Insider Activity

In other news, Director Andrew H. Tisch sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director directly owned 12,480,400 shares of the company’s stock, valued at $1,357,992,324. This trade represents a 0.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 19.00% of the stock is owned by insiders.

Loews Stock Performance

NYSE L opened at $109.14 on Friday. The stock has a market capitalization of $22.46 billion, a PE ratio of 13.87 and a beta of 0.56. The business has a 50 day simple moving average of $108.07 and a two-hundred day simple moving average of $106.75. 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 Corporation has a 1-year low of $86.77 and a 1-year high of $114.90.

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

Loews Announces Dividend

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

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.