787,900 Shares in Loews Corporation $L Purchased by Front Street Capital Management Inc.

Front Street Capital Management Inc. purchased a new position in Loews Corporation (NYSE:L) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 787,900 shares of the insurance provider’s stock, valued at approximately $16,310,000. Loews makes up about 1.9% of Front Street Capital Management Inc.’s portfolio, making the stock its 19th biggest holding.

A number of other institutional investors have also recently made changes to their positions in L. Vanguard Group Inc. grew its stake in Loews by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider’s stock valued at $2,045,759,000 after acquiring an additional 108,882 shares in the last quarter. BlackRock Inc. purchased a new stake in Loews in the 2nd quarter valued at about $1,621,369,000. Norges Bank acquired a new position in shares of Loews in the 4th quarter worth approximately $577,279,000. Geode Capital Management LLC grew its stake in shares of Loews by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider’s stock valued at $524,599,000 after buying an additional 271,234 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Loews by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider’s stock valued at $419,581,000 after purchasing an additional 344,995 shares during the period. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Stock Performance

NYSE:L opened at $111.44 on Tuesday. The firm has a market cap of $22.78 billion, a price-to-earnings ratio of 13.66 and a beta of 0.52. Loews Corporation has a 1-year low of $95.10 and a 1-year high of $121.01. The firm’s fifty day moving average price is $113.80 and its 200 day moving average price is $110.24. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.36 and a quick ratio of 0.36.

Loews (NYSE:L) last released its earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share (EPS) for the quarter. The company had revenue of $4.73 billion for the quarter. Loews had a return on equity of 8.60% and a net margin of 9.02%.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date is Wednesday, August 19th. Loews’s dividend payout ratio (DPR) is 3.06%.

Insider Activity

In related news, Director Dino Robusto purchased 5,000 shares of the company’s stock in a transaction on Friday, May 29th. The stock was bought at an average price of $104.74 per share, with a total value of $523,700.00. Following the completion of the transaction, the director owned 10,235 shares of the company’s stock, valued at approximately $1,072,013.90. This represents a 95.51% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 19.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Loews from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company has an average rating of “Strong Buy”.

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.