Callan Family Office LLC Purchases New Position in Loews Corporation $L

Callan Family Office LLC purchased a new stake in shares of Loews Corporation (NYSE:L) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 6,087 shares of the insurance provider’s stock, valued at approximately $689,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC increased its stake in shares of Loews by 2.3% during the first quarter. NewEdge Advisors LLC now owns 4,168 shares of the insurance provider’s stock valued at $445,000 after buying an additional 95 shares during the period. Lido Advisors LLC boosted its stake in shares of Loews by 3.9% during the 1st quarter. Lido Advisors LLC now owns 2,594 shares of the insurance provider’s stock valued at $277,000 after purchasing an additional 97 shares in the last quarter. Hancock Whitney Corp boosted its stake in shares of Loews by 3.9% during the 3rd 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 in the last quarter. IFM Investors Pty Ltd increased its position in shares of Loews by 0.3% during the fourth quarter. IFM Investors Pty Ltd now owns 31,867 shares of the insurance provider’s stock valued at $3,356,000 after buying an additional 100 shares during the period. Finally, Independent Advisor Alliance raised its stake in Loews by 4.3% in the fourth quarter. Independent Advisor Alliance now owns 2,603 shares of the insurance provider’s stock worth $274,000 after buying an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling at Loews

In related news, Director Dino Robusto acquired 5,000 shares of Loews stock in a transaction that occurred 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 transaction, the director directly owned 10,235 shares in the company, valued at approximately $1,072,013.90. This represents a 95.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 19.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Loews Trading Down 0.5%

NYSE:L opened at $110.84 on Wednesday. Loews Corporation has a one year low of $95.10 and a one year high of $121.01. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.36 and a quick ratio of 0.36. The company’s 50-day simple moving average is $113.85 and its 200 day simple moving average is $110.25. The firm has a market capitalization of $22.66 billion, a P/E ratio of 13.58 and a beta of 0.52.

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

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be paid a $0.0625 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s dividend payout ratio is presently 3.06%.

Loews Company 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.