Clare Market Investments LLC Makes New $1.60 Million Investment in Loews Corporation $L

Clare Market Investments LLC acquired a new position in shares of Loews Corporation (NYSE:L) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 14,990 shares of the insurance provider’s stock, valued at approximately $1,600,000.

Other institutional investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC raised its position in shares of Loews by 22.6% during the first quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider’s stock worth $329,000 after purchasing an additional 658 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Loews by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider’s stock valued at $2,108,000 after purchasing an additional 2,057 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Loews by 12.2% in the first quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock valued at $350,000 after buying an additional 414 shares during the last quarter. Woodline Partners LP boosted its position in Loews by 37.5% during the first quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock worth $1,372,000 after purchasing an additional 4,071 shares during the period. Finally, Cetera Investment Advisers grew its stake in Loews by 53.5% in the 2nd quarter. Cetera Investment Advisers now owns 7,156 shares of the insurance provider’s stock valued at $656,000 after buying an additional 2,493 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Strong Buy”.

Loews Price Performance

Shares of L opened at $117.77 on Tuesday. The business’s 50 day moving average price is $108.51 and its two-hundred day moving average price is $107.80. The firm has a market cap of $24.23 billion, a PE ratio of 14.78 and a beta of 0.52. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.36. Loews Corporation has a 52-week low of $89.32 and a 52-week high of $116.70.

Loews (NYSE:L) last released its quarterly earnings data on Monday, May 4th. The insurance provider reported $1.63 earnings per share for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%. The firm had revenue of $4.55 billion for the quarter.

Loews Dividend Announcement

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

Insider Activity

In other Loews news, Director Dino Robusto acquired 5,000 shares of the company’s stock in a transaction on Friday, May 29th. The shares were acquired at an average cost of $104.74 per share, with a total value of $523,700.00. Following the completion of the acquisition, the director directly owned 10,235 shares in the company, valued at $1,072,013.90. This trade represents a 95.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.00% of the stock is currently 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.