Callan Family Office LLC Invests $689,000 in Loews Corporation $L

Callan Family Office LLC bought a new position in Loews Corporation (NYSE:L) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 6,087 shares of the insurance provider’s stock, valued at approximately $689,000.

Other large investors have also added to or reduced their stakes in the company. DV Equities LLC bought a new stake in Loews during the fourth quarter worth about $25,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Loews during the 2nd quarter valued at about $26,000. Keating Financial Advisory Services Inc. bought a new stake in Loews in the 2nd quarter worth approximately $28,000. Paladin Partners LLC bought a new stake in Loews in the 2nd quarter worth approximately $30,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in Loews in the third quarter worth approximately $30,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

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

Loews Price Performance

L opened at $110.84 on Wednesday. The stock’s 50 day simple moving average is $113.85 and its 200 day simple moving average is $110.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.36 and a quick ratio of 0.36. Loews Corporation has a 1 year low of $95.10 and a 1 year high of $121.01. The firm has a market cap of $22.66 billion, a price-to-earnings ratio of 13.58 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. The firm 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 announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th 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, August 19th. Loews’s payout ratio is presently 3.06%.

Insider Buying and Selling

In other news, Director Dino Robusto purchased 5,000 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the acquisition, the director directly owned 10,235 shares of the company’s stock, valued at $1,072,013.90. This represents a 95.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 19.00% of the stock is owned by corporate 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.