Kesler Norman & Wride LLC Invests $1.20 Million in Loews Corporation $L

Kesler Norman & Wride LLC bought a new position in Loews Corporation (NYSE:L) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,400 shares of the insurance provider’s stock, valued at approximately $1,201,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in L. Integrated Wealth Concepts LLC grew its holdings in shares of Loews by 22.6% in 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Loews by 9.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider’s stock worth $2,108,000 after purchasing an additional 2,057 shares during the last quarter. Empowered Funds LLC grew its holdings 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 worth $350,000 after purchasing an additional 414 shares during the last quarter. Woodline Partners LP grew its holdings in shares of Loews by 37.5% in 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 last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Loews by 53.5% in the second quarter. Cetera Investment Advisers now owns 7,156 shares of the insurance provider’s stock worth $656,000 after purchasing an additional 2,493 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Loews Stock Performance

Shares of L stock opened at $105.05 on Wednesday. The stock has a fifty day moving average of $107.91 and a 200 day moving average of $106.99. Loews Corporation has a 52 week low of $86.77 and a 52 week high of $114.90. The firm has a market capitalization of $21.62 billion, a price-to-earnings ratio of 13.35 and a beta of 0.53. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46.

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

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be paid a $0.0625 dividend. The ex-dividend date of this dividend 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 presently 3.18%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, Director Andrew H. Tisch sold 50,000 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $108.81, for a total value of $5,440,500.00. Following the completion of the sale, the director owned 12,480,400 shares of the company’s stock, valued at $1,357,992,324. This trade represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dino Robusto acquired 5,000 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was purchased at an average price of $104.74 per share, with a total value of $523,700.00. Following the acquisition, the director owned 10,235 shares of the company’s stock, valued at $1,072,013.90. This represents a 95.51% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 19.00% of the company’s stock.

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.