Loews Corporation $L Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc increased its holdings in shares of Loews Corporation (NYSE:L) by 13.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 140,022 shares of the insurance provider’s stock after buying an additional 16,261 shares during the period. CIBC Asset Management Inc’s holdings in Loews were worth $14,733,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its position in Loews by 32.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,237,922 shares of the insurance provider’s stock valued at $340,986,000 after buying an additional 786,381 shares during the period. Kesler Norman & Wride LLC acquired a new stake in shares of Loews in the fourth quarter valued at $1,201,000. AXQ Capital LP boosted its holdings in Loews by 83.5% in the fourth quarter. AXQ Capital LP now owns 14,980 shares of the insurance provider’s stock valued at $1,578,000 after purchasing an additional 6,816 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in Loews by 0.7% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 61,373 shares of the insurance provider’s stock worth $6,463,000 after purchasing an additional 453 shares in the last quarter. Finally, MUFG Securities EMEA plc grew its stake in Loews by 1,223.1% during the 4th quarter. MUFG Securities EMEA plc now owns 43,081 shares of the insurance provider’s stock worth $4,537,000 after purchasing an additional 39,825 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Loews in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Strong Buy”.

Insider Transactions at Loews

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $108.81, for a total transaction of $5,440,500.00. Following the completion of the sale, the director directly owned 12,480,400 shares of the company’s stock, valued at $1,357,992,324. The trade was a 0.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dino Robusto acquired 5,000 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was acquired 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 approximately $1,072,013.90. The trade was a 95.51% increase in their position. The SEC filing for this purchase provides additional information. 19.00% of the stock is owned by insiders.

Loews Trading Up 0.5%

NYSE L opened at $104.95 on Friday. Loews Corporation has a 52 week low of $86.77 and a 52 week high of $114.90. The firm has a 50 day moving average of $107.83 and a two-hundred day moving average of $107.01. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $21.60 billion, a PE ratio of 13.34 and a beta of 0.53.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, May 4th. The insurance provider reported $1.63 earnings per share for the quarter. The business had revenue of $4.56 billion for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th will be paid a $0.0625 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews’s dividend payout ratio (DPR) is currently 3.18%.

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.