Clare Market Investments LLC Acquires 7,270 Shares of Loews Corporation $L

Clare Market Investments LLC grew its stake in shares of Loews Corporation (NYSE:L) by 147.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,215 shares of the insurance provider’s stock after purchasing an additional 7,270 shares during the quarter. Clare Market Investments LLC’s holdings in Loews were worth $1,226,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Versant Capital Management Inc lifted its holdings in Loews by 6.9% during the 3rd quarter. Versant Capital Management Inc now owns 1,606 shares of the insurance provider’s stock valued at $161,000 after buying an additional 104 shares in the last quarter. Moody Lynn & Lieberson LLC increased its position in shares of Loews by 2.9% during the third quarter. Moody Lynn & Lieberson LLC now owns 3,678 shares of the insurance provider’s stock worth $369,000 after acquiring an additional 105 shares during the period. Trustmark Bank Trust Department raised its stake in shares of Loews by 0.7% during the second quarter. Trustmark Bank Trust Department now owns 16,263 shares of the insurance provider’s stock valued at $1,491,000 after acquiring an additional 115 shares in the last quarter. Wedmont Private Capital raised its stake in shares of Loews by 3.8% during the third quarter. Wedmont Private Capital now owns 3,291 shares of the insurance provider’s stock valued at $339,000 after acquiring an additional 120 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Loews by 0.5% in the third quarter. Exchange Traded Concepts LLC now owns 25,996 shares of the insurance provider’s stock valued at $2,610,000 after purchasing an additional 120 shares during the period. 58.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Loews currently has a consensus rating of “Strong Buy”.

Insider Activity

In other Loews news, VP Marc A. Alpert sold 3,495 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $109.87, for a total transaction of $383,995.65. Following the completion of the sale, the vice president directly owned 16,325 shares of the company’s stock, valued at approximately $1,793,627.75. This represents a 17.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles M. Diker sold 1,442 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $107.93, for a total transaction of $155,635.06. Following the completion of the sale, the director owned 21,594 shares in the company, valued at $2,330,640.42. This represents a 6.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 181,187 shares of company stock worth $19,435,041 over the last ninety days. 19.00% of the stock is currently owned by corporate insiders.

Loews Price Performance

Shares of L opened at $109.98 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 0.36. The company has a 50 day moving average price of $106.46 and a 200-day moving average price of $102.63. Loews Corporation has a fifty-two week low of $78.98 and a fifty-two week high of $114.90. The stock has a market capitalization of $22.66 billion, a PE ratio of 13.78 and a beta of 0.61.

Loews (NYSE:L) last issued its quarterly earnings data on Monday, February 9th. The insurance provider reported $1.94 earnings per share (EPS) for the quarter. The company had revenue of $4.73 billion for the quarter. Loews had a net margin of 9.03% and a return on equity of 8.86%.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th will be paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Wednesday, February 25th. Loews’s dividend payout ratio is 3.13%.

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.