Top 5 3rd Quarter Trades of LOEWS CORP

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Nov 10, 2022
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LOEWS CORP recently filed their 13F report for the third quarter of 2022, which ended on 2022-09-30.

The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.

Loews Corp is a commercial property and casualty insurance diversified company that operates through three publicly traded companies and two wholly owned subsidiaries. The company cantrace its history back to 1946, when Laurence Tisch purchased a resort hotel inLakewood for $125,000. The two Tisch brothers would continue their hotel business and buy a controlling interest in Loew’s Theaters Inc. in 1959. The brothers would diversify the Loews business in the 1960s and 1970s, acquiring Lorillard, a tobacco company, CAN Financial, a financial corporation, and Bulova, a manufacturer of watches and clocks. Fueled by these acquisitions, the company’s revenue would grow from $100 million to $3 billion in just a decade. In the 1980s and 1990s, the company continued with diversifications, acquiring Diamon M. Drilling and, subsequently, ODECO, providing contract drilling services to the energy industry. The company would then purchase Texas Gas Transmissions and Gulf Pipeline Company, creating Boardwalk Pipeline Partners, and Dominion Resources, also selling off Bulova Watches to Citizen Holdings. Loews Corp currently offers management and professional liability insurance, risk management, specialized property and casualty coverage, commercial surety and fidelity bonds, alternative risk services, loss-sensitive insurance programs, claims administration services, a variety of underwriting services, and many others. Loews Corp currently has four operating subsidiaries that it owns a controlling majority in: CNA Financial Corporation, one of the largest commercial and casualty insurance organizations in the U.S.; Diamond Offshore Drilling, Inc, one of the largest offshore drilling companies; Boardwalk Pipeline Partners, operating interstate natural gas pipeline systems; and Loews Hotels & Resorts, the only company that Loews Corp completely owns, operating 22 luxury hotels in U.S. and Canada. Loews Corp has a total of over $78 billion in total assets, bringing in a total of over $15 billion revenue with over $1 billion net income. The company employs over 18,000 people as of 2015.

As of the latest 13F report, the guru’s equity portfolio contained 37 stocks valued at a total of $9.38Bil. The top holdings were CNA(95.91%), META(0.53%), and TWTR(0.39%).

According to GuruFocus data, these were LOEWS CORP’s top five trades of the quarter.

Twitter Inc


The guru established a new position worth 825,000 shares in NYSE:TWTR, giving the stock a 0.39% weight in the equity portfolio. Shares traded for an average price of $40.71 during the quarter.

On 11/10/2022, Twitter Inc traded for a price of $53.7 per share and a market cap of $41.09Bil. The stock has returned -2.03% over the past year.

GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 4 out of 10.

In terms of valuation, Twitter Inc has a price-book ratio of 6.98, a EV-to-Ebitda ratio of 66.62 and a price-sales ratio of 8.22.

The price-to-GF Value ratio is 0.94, earning the stock a GF Value rank of 6.

CNA Financial Corp


During the quarter, LOEWS CORP bought 669,460 shares of NYSE:CNA for a total holding of 243,883,663. The trade had a 0.26% impact on the equity portfolio. During the quarter, the stock traded for an average price of $40.71.

On 11/10/2022, CNA Financial Corp traded for a price of $42.42 per share and a market cap of $11.50Bil. The stock has returned -3.63% over the past year.

GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 6 out of 10.

In terms of valuation, CNA Financial Corp has a price-earnings ratio of 12.67, a price-book ratio of 1.42, a EV-to-Ebitda ratio of 10.48 and a price-sales ratio of 0.97.

The price-to-GF Value ratio is 0.95, earning the stock a GF Value rank of 5.

Cigna Corp


The guru sold out of their 74,000-share investment in NYSE:CI. Previously, the stock had a 0.17% weight in the equity portfolio. Shares traded for an average price of $281.41 during the quarter.

On 11/10/2022, Cigna Corp traded for a price of $321.475 per share and a market cap of $98.17Bil. The stock has returned 49.40% over the past year.

GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 8 out of 10.

In terms of valuation, Cigna Corp has a price-earnings ratio of 26.78, a price-book ratio of 2.18, a price-earnings-to-growth (PEG) ratio of 1.23, a EV-to-Ebitda ratio of 9.91 and a price-sales ratio of 0.57.

The price-to-GF Value ratio is 1.14, earning the stock a GF Value rank of 3.

Cheniere Energy Inc


The guru established a new position worth 75,000 shares in AMEX:LNG, giving the stock a 0.13% weight in the equity portfolio. Shares traded for an average price of $151.67 during the quarter.

On 11/10/2022, Cheniere Energy Inc traded for a price of $165.845 per share and a market cap of $41.27Bil. The stock has returned 59.99% over the past year.

GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 4 out of 10.

In terms of valuation, Cheniere Energy Inc has a EV-to-Ebitda ratio of -94.92 and a price-sales ratio of 1.35.

The price-to-GF Value ratio is 0.79, earning the stock a GF Value rank of 6.

Meta Platforms Inc


During the quarter, LOEWS CORP bought 70,000 shares of NAS:META for a total holding of 365,000. The trade had a 0.1% impact on the equity portfolio. During the quarter, the stock traded for an average price of $162.08.

On 11/10/2022, Meta Platforms Inc traded for a price of $111.5799 per share and a market cap of $291.30Bil. The stock has returned -66.47% over the past year.

GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 10 out of 10.

In terms of valuation, Meta Platforms Inc has a price-earnings ratio of 10.47, a price-book ratio of 2.36, a price-earnings-to-growth (PEG) ratio of 0.39, a EV-to-Ebitda ratio of 5.86 and a price-sales ratio of 2.40.

The price-to-GF Value ratio is 0.28, earning the stock a GF Value rank of 2.


Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.

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