CPC Advisors LLC Invests $6.57 Million in Loews Corporation $L

CPC Advisors LLC purchased a new position in Loews Corporation (NYSE:L) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 65,422 shares of the insurance provider’s stock, valued at approximately $6,568,000.

A number of other institutional investors have also recently added to or reduced their stakes in L. Swedbank AB raised its holdings in Loews by 9.7% during the third quarter. Swedbank AB now owns 443,106 shares of the insurance provider’s stock worth $44,483,000 after purchasing an additional 39,313 shares in the last quarter. Assetmark Inc. increased its position in shares of Loews by 182.2% during the 2nd quarter. Assetmark Inc. now owns 1,967 shares of the insurance provider’s stock valued at $180,000 after purchasing an additional 1,270 shares during the period. Permanent Capital Management LP bought a new stake in shares of Loews in the 3rd quarter worth $1,551,000. Nordea Investment Management AB raised its stake in shares of Loews by 2.6% in the 2nd quarter. Nordea Investment Management AB now owns 16,078 shares of the insurance provider’s stock worth $1,459,000 after buying an additional 403 shares in the last quarter. Finally, AustralianSuper Pty Ltd boosted its stake in Loews by 31.0% during the second quarter. AustralianSuper Pty Ltd now owns 165,837 shares of the insurance provider’s stock valued at $15,201,000 after buying an additional 39,268 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Loews Price Performance

Shares of NYSE:L opened at $104.52 on Tuesday. The company has a market capitalization of $21.60 billion, a PE ratio of 15.15 and a beta of 0.61. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a fifty day moving average of $105.10 and a 200-day moving average of $99.19. Loews Corporation has a one year low of $78.98 and a one year high of $109.06.

Loews (NYSE:L) last issued its 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 business had revenue of $4.67 billion for the quarter.

Loews Dividend Announcement

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

Insider Buying and Selling

In other news, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction that occurred 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 transaction, the director directly owned 12,909,642 shares of the company’s stock, valued at $1,356,416,084.94. This trade represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Walter L. Harris sold 1,442 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $107.88, for a total transaction of $155,562.96. Following the sale, the director owned 24,594 shares in the company, valued at $2,653,200.72. This represents a 5.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 125,770 shares of company stock valued at $13,325,818. Company insiders own 18.70% of the company’s stock.

About Loews

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.