Loews Corporation $L Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. lessened its position in Loews Corporation (NYSE:L) by 7.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 90,800 shares of the insurance provider’s stock after selling 7,200 shares during the quarter. Hennessy Advisors Inc.’s holdings in Loews were worth $9,115,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Elevation Point Wealth Partners LLC purchased a new stake in Loews during the second quarter worth about $27,000. NewSquare Capital LLC boosted its stake in shares of Loews by 404.1% in the second quarter. NewSquare Capital LLC now owns 368 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 295 shares during the period. Hantz Financial Services Inc. grew its holdings in shares of Loews by 14,900.0% in the second quarter. Hantz Financial Services Inc. now owns 450 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 447 shares in the last quarter. MTM Investment Management LLC purchased a new stake in Loews during the 2nd quarter worth approximately $41,000. Finally, CYBER HORNET ETFs LLC purchased a new stake in Loews during the 2nd quarter worth approximately $44,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Loews Stock Performance

NYSE:L opened at $105.34 on Thursday. Loews Corporation has a 12 month low of $78.98 and a 12 month high of $109.06. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a market capitalization of $21.77 billion, a PE ratio of 15.27 and a beta of 0.62. The business’s fifty day moving average price is $104.17 and its 200 day moving average price is $98.23.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, November 3rd. The insurance provider reported $2.43 earnings per share (EPS) for the quarter. Loews had a return on equity of 7.89% and a net margin of 7.95%.The company had revenue of $4.67 billion during the quarter.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Wednesday, November 26th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, November 26th. Loews’s dividend payout ratio is 3.62%.

Insider Buying and Selling

In other news, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $105.07, for a total value of $5,253,500.00. Following the completion of the transaction, the director owned 12,909,642 shares in the company, valued at approximately $1,356,416,084.94. This represents a 0.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Paul J. Fribourg sold 1,442 shares of Loews stock in a transaction on Monday, December 1st. The stock was sold at an average price of $108.13, for a total transaction of $155,923.46. Following the sale, the director owned 400 shares in the company, valued at $43,252. This represents a 78.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 125,770 shares of company stock valued at $13,325,818 over the last three months. 19.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Strong Buy”.

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.