Front Street Capital Management Inc. Takes Position in Loews Corporation $L

Front Street Capital Management Inc. bought a new stake in shares of Loews Corporation (NYSE:L) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 787,900 shares of the insurance provider’s stock, valued at approximately $16,310,000. Loews comprises approximately 1.9% of Front Street Capital Management Inc.’s holdings, making the stock its 19th largest position. Front Street Capital Management Inc. owned about 0.39% of Loews at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of L. NewEdge Advisors LLC lifted its holdings in shares of Loews by 2.3% in the first quarter. NewEdge Advisors LLC now owns 4,168 shares of the insurance provider’s stock worth $445,000 after buying an additional 95 shares in the last quarter. Lido Advisors LLC increased its stake in Loews by 3.9% during the first quarter. Lido Advisors LLC now owns 2,594 shares of the insurance provider’s stock worth $277,000 after acquiring an additional 97 shares during the last quarter. Hancock Whitney Corp raised its holdings in Loews by 3.9% during the 3rd quarter. Hancock Whitney Corp now owns 2,618 shares of the insurance provider’s stock valued at $263,000 after buying an additional 98 shares during the period. IFM Investors Pty Ltd raised its stake in shares of Loews by 0.3% in the fourth quarter. IFM Investors Pty Ltd now owns 31,867 shares of the insurance provider’s stock valued at $3,356,000 after acquiring an additional 100 shares during the period. Finally, Independent Advisor Alliance lifted its stake in Loews by 4.3% in the fourth quarter. Independent Advisor Alliance now owns 2,603 shares of the insurance provider’s stock worth $274,000 after purchasing an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling

In other Loews news, Director Dino Robusto purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the acquisition, the director owned 10,235 shares in the company, valued at $1,072,013.90. This represents a 95.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 19.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Loews Price Performance

NYSE L opened at $111.44 on Tuesday. Loews Corporation has a 12-month low of $95.10 and a 12-month high of $121.01. The firm’s fifty day simple moving average is $113.80 and its two-hundred day simple moving average is $110.24. 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 firm has a market capitalization of $22.78 billion, a P/E ratio of 13.66 and a beta of 0.52.

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

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%.

Loews Company 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.