Pacer Advisors Inc. Raises Position in Loews Corporation $L

Pacer Advisors Inc. lifted its stake in shares of Loews Corporation (NYSE:L) by 41.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,936 shares of the insurance provider’s stock after acquiring an additional 7,894 shares during the quarter. Pacer Advisors Inc.’s holdings in Loews were worth $2,837,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Hancock Whitney Corp boosted its holdings in Loews by 3.9% in the third quarter. Hancock Whitney Corp now owns 2,618 shares of the insurance provider’s stock valued at $263,000 after purchasing an additional 98 shares during the period. IFM Investors Pty Ltd raised its position in Loews by 0.3% in the 4th quarter. IFM Investors Pty Ltd now owns 31,867 shares of the insurance provider’s stock valued at $3,356,000 after purchasing an additional 100 shares in the last quarter. Independent Advisor Alliance raised its position in Loews by 4.3% in the 4th quarter. Independent Advisor Alliance now owns 2,603 shares of the insurance provider’s stock valued at $274,000 after purchasing an additional 107 shares in the last quarter. Ballentine Partners LLC boosted its stake in shares of Loews by 2.7% in the 4th quarter. Ballentine Partners LLC now owns 4,197 shares of the insurance provider’s stock valued at $442,000 after buying an additional 111 shares during the period. Finally, Sanctuary Advisors LLC boosted its stake in shares of Loews by 0.8% in the 4th quarter. Sanctuary Advisors LLC now owns 14,006 shares of the insurance provider’s stock valued at $1,475,000 after buying an additional 115 shares during the period. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Buying and Selling at Loews

In other Loews news, Director Dino Robusto bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the purchase, the director directly owned 10,235 shares in the company, valued at $1,072,013.90. This trade represents a 95.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 19.00% of the company’s stock.

Loews Price Performance

Loews stock opened at $110.60 on Wednesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $107.93 and a 200-day simple moving average of $107.13. The stock has a market cap of $22.76 billion, a P/E ratio of 14.05 and a beta of 0.53. Loews Corporation has a 12-month low of $88.76 and a 12-month high of $114.90.

Loews (NYSE:L) last posted its 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 firm had revenue of $4.55 billion for the quarter.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, May 27th. Loews’s dividend payout ratio (DPR) is 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.