North Dakota State Investment Board Takes Position in Loews Corporation $L

North Dakota State Investment Board purchased a new position in shares of Loews Corporation (NYSE:L) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 5,861 shares of the insurance provider’s stock, valued at approximately $617,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of L. Harbor Capital Advisors Inc. bought a new stake in shares of Loews during the 4th quarter worth approximately $27,000. Harbor Investment Advisory LLC bought a new stake in shares of Loews during the 4th quarter worth approximately $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in shares of Loews during the 3rd quarter worth approximately $30,000. Private Trust Co. NA lifted its stake in shares of Loews by 896.7% during the 4th quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 269 shares during the last quarter. Finally, Westfuller Advisors LLC bought a new stake in shares of Loews during the 4th quarter worth approximately $36,000. 58.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Strong Buy”.

Insider Buying and Selling

In other Loews 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 transaction of $5,440,500.00. Following the transaction, the director directly owned 12,480,400 shares in the company, valued at $1,357,992,324. This trade represents a 0.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 19.00% of the stock is owned by insiders.

Loews Price Performance

Shares of L stock opened at $109.14 on Friday. The stock has a 50 day moving average price of $108.07 and a 200 day moving average price of $106.75. The firm has a market capitalization of $22.46 billion, a P/E ratio of 13.87 and a beta of 0.56. Loews Corporation has a 52-week low of $86.77 and a 52-week high of $114.90. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.36.

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

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th 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, May 27th. Loews’s dividend payout ratio (DPR) is presently 3.18%.

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.